Israeli Stocks: Bezeq, Teva Pharmaceutical, I.T.G.I., Paz Oil
Israel’s TA-25 Index dropped the most since June 15, sliding 2 percent to 1,199.45 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.41 billion shekels ($410.2 million) in shares and convertible securities, according to Tel Aviv Stock Exchange data.
The following stocks rose or fell today. Symbols are in parentheses.
Bezeq The Israeli Telecommunication Corp. (BEZQ IT) retreated 2 percent to 8.24 shekels, the lowest since November 2009. The country’s largest communications company is scheduled to report second-quarter results after the close. Bezeq may say net income fell to 583.5 million shekels from 638 million shekels a year earlier, according to the median estimate of six analysts in a Bloomberg survey.
I.T.G.I. Medical Ltd. (ITGI IT) increased the most since June 13, soaring 11 percent to 0.322 shekel. The maker of vascular products signed a four-year agreement with Beijing Xinchengwanda Trading Co. to distribute its AneuGraft Dx cardiac stent in China.
Paz Oil Co. (PZOL IT) slumped to the lowest since July 2010, dropping 4.1 percent to 509.30 shekels. The maker of petroleum-based products said government plans to lower gasoline prices may have a “significant impact” on its profit.
Teva Pharmaceutical Industries Ltd. (TEVA) plunged 7.2 percent to 149 shekels, the biggest loss since October 2008. The world’s largest generic drugmaker said its laquinimod experimental multiple sclerosis drug failed to meet the main goal of a clinical trial.
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