Israeli Stocks: Bezeq, Cellcom, Hot Telecommunication, Micronet

Israel’s TA-25 Index dropped for the first time in three days, slipping 0.2 percent to 1,110.28 at 1:13 p.m. in Tel Aviv. The gauge has lost 2.2 percent this month, after a 5.2 percent gain in October, the biggest monthly increase this year.

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

Bezeq Israeli Telecommunication Corp. (BEZQ IT) declined for the first time in four days, retreating 1 percent to 7.546 shekels. Harel Finance Ltd. lowered its share-price estimate for the country’s largest communications company to 8.2 shekels from 9.2 shekels. Meitav Investment House Ltd. initiated coverage of Bezeq with a “market perform” recommendation and a 7.5 shekel price estimate.

Hot Telecommunication System Ltd. (HOT) rose the most since Oct. 27, advancing 2.5 percent to 48.20 shekels. Meitav started the country’s second-biggest fixed-line operator with an “outperform” recommendation. Cellcom Israel Ltd. (CEL) and Partner Communications Co. (PTNR IT) were initiated with ‘market perform’’ ratings. Cellcom dropped 0.9 percent to 79.55 shekels. Partner fell 0.8 percent to 41.80 shekels.

Micronet Ltd. (MCRNL IT) surged the most since Bloomberg began tracking the shares in December 2006, increasing 35 percent to 1.75 shekels. The manufacturer of mobile-data collection products said it won a follow-on order from a U.S. customer.

To contact the reporter on this story: Sharon Wrobel in Tel Aviv at swrobel4@bloomberg.net

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

Press spacebar to pause and continue. Press esc to stop.

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.