Israeli Stocks: Avner, Bioline, Delek, Exalenz, Mellanox

Israel’s TA-25 Index climbed to the the highest in two weeks, increasing 0.3 percent to 1,266.73 at the 4:30 p.m. close in Tel Aviv. Investors traded about 874.5 million shekels ($257 million) in shares and convertible securities.

The following stocks rose or fell today. Symbols are in parentheses.

Avner Oil Exploration-LP (AVNRL IT) rose to the highest level since May 22, advancing 1.5 percent to 2.181 shekels. The oil and gas explorer and Delek Drilling-LP (DEDRL IT) said a new layer of gas was discovered at the Tamar gas field’s number 3 site, which may raise the reserve estimate to as much as 9.14 trillion cubic feet. Delek Drilling increased 1.8 percent to 12.28 shekels.

Bioline RX Ltd. (BLRX) advanced 6.5 percent to 1.764 shekels, the most since July 3. The pharmaceutical development company said it will tomorrow start trading American Depositary Receipts on the Nasdaq Stock Market.

Exalenz Bioscience Ltd. (EXEN) jumped 8.4 percent to 0.887 shekel, the biggest gain since June 2010. The developer of breath-testing systems said its first trial of BreathID to diagnose liver cancer was successful and it now plans to conduct an advanced clinical trial of the product.

Israel Land Development Co. (ILDC IT) advanced the most in more than a month, increasing 5.9 percent to 31.85 shekels. Psagot Investment House Ltd. started coverage of the investment company with a “buy” recommendation and a price estimate of 51.4 shekels.

Mellanox Technologies Ltd. (MLNX) surged 9 percent to 113.70 shekels, the highest since it began trading in 2007. The Israeli maker of data-center adapters and software reported second-quarter profit that beat analysts’ estimates.

To contact the reporter on this story: {Sharon Wrobel} in Tel Aviv at swrobel4@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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