Israeli Stocks: Alvarion, Arko Holdings, Space Communication
Israel’s TA-25 Index increased 0.1 percent to 1,261.93 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.23 billion shekels ($363.1 million) in shares and convertible securities, according to Tel Aviv Stock Exchange data.
The following stocks rose or fell today. Symbols are in parentheses.
Alvarion Ltd. (ALVR) soared to the highest level since May 4, advancing 9.6 percent to 5.706 shekels. The maker of wireless telecommunications equipment reported second-quarter net income of $319,000 after a loss of $10.6 million a year earlier.
Arko Holdings Ltd. (ARKO) jumped 11 percent to 0.304 shekel, the highest since May 2008. The adviser to real-estate and financial companies signed an agreement in principle with GPM Investment LLC and Petro Group Ltd. under which it is considering an investment of $15 million in GPM in exchange for a 51 percent stake.
Space Communication Ltd. (SCC) advanced the most since July 3, rising 3.2 percent to 55.13 shekels. The marketer of satellite communication services signed a seven-year agreement with a European company to provide satellite services for a television venture in Ukraine. The company expects revenue from the contract to reach $19 million.
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