Israeli Stocks: Alvarion, Azorim, Partner, Cellcom
(Corrects description of Cellcom in story originally published Jan. 8)
Israel’s TA-25 Index (TA-25) gained for a sixth day, advancing 0.1 percent to 1,114.55, at the 4:30 p.m. close in Tel Aviv. The measure dropped 18 percent last year. Investors traded about 660 million shekels ($171 million) of shares and convertible securities, according to bourse data.
The following stocks rose or fell today. Symbols are in parentheses.
Ampal-American Israel (AMPL) Corp surged 16 percent, the most since Oct. 18 to 1.43 shekels. Al-Ahram reported that Egypt and Israel are negotiating a new gas-export contract. The stock is up 20 percent since Al-Ahram published the report Jan. 3. Globes cited the Al-Ahram report today.
Alvarion Ltd. (ALVR) rose the most since Oct. 26, surging 11 percent to 4.05 shekels, or the equivalent of $1.05. The telecommunication-equipment maker’s U.S. shares gained added 4.7 percent to $1.01 on Jan. 6.
Azorim Investment Development & Construction Co. (AZRM IT) fell the most since Dec. 22, dropping 4.6 percent to 3.49 shekels after a sale of a mall in Netanya, Israel didn’t go through. Azrieli Group (AZRG) Ltd, a real estate investment company, said it didn’t agree with conditions set by Israel’s Antitrust Authority for acquiring the mall from Azorim and Shikun & Binui Ltd. Azrieli shares dropped less than 0.1 percent to 91.98 shekels. Shikun & Binui slipped 0.5 percent to 6.50 shekels.
Israel Chemicals Ltd. (ICL) declined the most since Dec. 29, falling 2.5 percent to 39.27 shekels. The maker of fertilizer from minerals harvested from the Dead Sea said Chief Executive Officer Akiva Mozes will retire after 13 years in the position.
Cellcom Israel Ltd. (CEL) declined the most since Jan. 5, dropping 1.8 percent to 60.60 shekels, or the equivalent of $15.73. The shares in the country’s largest mobile-phone company declined 0.9 percent to $15.51 in the U.S. on Jan. 6.
Partner Communications Co. (PTNR) lost 2.3 percent, the drop since Dec. 29, to 34.55 shekels. Controlling shareholder Ilan Ben-Dov, who owns 44 percent of Partner through Scailex Corp. (SCAILEX), said he intends to step down as chairman.
To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at email@example.com