Israeli Stocks: Teva, Mellanox, Bio Light and Elbit Imaging

Israel’s TA-25 Index rebounded from the biggest decline in almost three weeks, gaining 2.1 percent to 1,060.29 at the 4:30 p.m. close in Tel Aviv. Investors traded about 783 million shekels ($211 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.

Elbit Imaging Ltd. (EMIT) climbed 3.4 percent, the most since Sept. 20, to 8.107 shekels. A unit of the investor in real estate and medical companies reached a $30 million loan agreement with Eastgate Property LLC.

Micromedic Technologies Ltd. (MCTC) gained 2.9 percent to 2.381 shekels, the highest level since Sept. 6. Bio Light Israeli Life Sciences Investments Ltd. (BOLT) , a developer of a laser-based technology to treat glaucoma, agreed to buy a controlling stake in the developer of biomedical markers. The shares of Bio Light declined 1.9 percent to 0.212 shekel.

Mellanox Technologies Ltd. (MLNX) retreated for a sixth day, declining 2.7 percent to 113.40 shekels, the equivalent of $30.62. The shares of adapter maker that’s part owned by Oracle Corp. narrowed the gap with the U.S.-traded stock, which retreated the most since July 2010 last week to $30.26, after the company announced a share sale.

Teva Pharmaceutical Industries Ltd. (TEVA) slumped to the lowest since December 2006, declining 3.1 percent to 130.30 shekels, the equivalent of $35.19. The European Commission extended its review of the world’s largest drugmaker’s planned acquisition of Cephalon Inc. The U.S. traded shares lost 8.6 percent last week to $35.26.

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

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.