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Israeli Stocks: Medigus, Partner, Perrigo, Israel Land Energy

Israel’s TA-25 Index declined the most in almost a month, dropping 2 percent to 1,145.48 at the 4:30 p.m. close in Tel Aviv.

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

Israel Land Development Co. Energy Ltd. (IE IT) gained for the fourth time in five days, increasing 1.6 percent to 0.975 shekel. The natural gas explorer agreed to sell 7.6 percent of the rights to the Sara/348 and Myra/347 licenses to Modiin-LP (MDINL IT) for $30.5 million. Modiin rose 0.5 percent to 0.393 shekel.

Medigus Ltd. (MDGS) fell 4 percent to 0.879 shekel, the lowest since Sept. 8. The maker of endoscopic procedures offered shares priced at 0.9 shekel a share. The stock closed at 0.916 shekel on Oct. 27.

Partner Communications Co. (PTNR IT) increased 4.8 percent to 44 shekels, the highest since Aug. 4. “Following the sharp decline in the share price in the year to date, foreign investors may be attracted by the company’s low valuation versus its peers,” said Gil Dattner, an analyst at Bank Leumi Le- Israel Ltd., which owns 4.99 percent of Israel’s second-largest mobile-phone company.

Perrigo Co. (PRGO) retreated 6 percent to 324 shekels, the lowest since Sept. 6. Clal Finance Brokerage Ltd. called the maker of generic over-the-counter drugs’ first-quarter results “lukewarm.” The stock has dropped 10 percent since the company reported earnings on Oct. 27.

To contact the reporters on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net; Gwen Ackerman in Jerusalem at gackerman@bloomberg.net

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

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