Israeli Stocks: Discount Investment Corp., Redhill Biopharma

Israel’s TA-25 Index declined the most in more than a week, falling 2.8 percent to 1,033.89 at the 4:30 p.m. in close in Tel Aviv. Investors traded about 1.09 billion shekels ($295 million) of shares and convertible securities today, according to Tel Aviv Stock Exchange data.

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

Discount Investment Corp. (DISI) billionaire Nochi Dankner’s holding company, dropped 7 percent, the most since Sept. 12, to 28.24 shekels. Israel Corp., (ILCO IT) which is owned by the Ofer family, lost 3.6 percent to 2,487 shekels, the most since Sept. 12. The shares in the two holding companies declined as a government panel released its recommendations to increase competition and reduce concentration of ownership in the economy.

Redhill Biopharma Ltd. (RDHL IT) rallied the most since it started trading on Feb. 13, gaining 19 percent to 2.213 shekels. The developer and manufacturer of pharmaceuticals said it entered an agreement to buy exclusive rights for a diagnostic test to help identify bacteria connected to Crohn’s disease.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

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

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