Israel’s TA-25 Index dropped for the first time in three days, slipping 0.2 percent to 1,121.27 at the 4:30 p.m. close in Tel Aviv. The measure declined 0.8 percent this week. Investors traded about 843 million shekels ($227 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.
Allot Communications Ltd. (ALLT) advanced 0.9 percent, the most since Jan. 26, to 60.33 shekels, or the equivalent of $16.21. The U.S.-traded shares of the maker of high-speed networking equipment jumped 3.1 percent to $16.25 yesterday as chipmaker Broadcom Corp.’s sales forecast bolstered the outlook for the industry.
Africa Israel Properties Ltd. (AFPR) surged 7 percent to 33.63 shekels, the highest level since Nov. 1. I.B.I.-Israel Brokerage & Investments Ltd. started coverage of the real-estate developer with a “buy” recommendation and 60 shekel share- price estimate.
Clal Industries & Investments Ltd. (CII IT) declined 2.5 percent to 17.49 shekels, the lowest since Jan. 24. Viola Group halted talks with IDB Development Corp. to acquire 40 percent of the investment company, Calcalist reported, without saying where it got the information. IDB Development declined to comment on the report. IDB Holding Corp. (IDBH) , the parent of IDB Development, advanced 0.9 percent to 40.73 shekels.
Partner Communications Co. (PTNR IT) increased 3.5 percent to 31.85 shekels, or the equivalent of $8.55, the highest since Jan. 24. The U.S.-traded shares of Israel’s second-largest mobile-phone operator, gained 2.1 percent to $8.36 yesterday. “Investors think a buyer may pay a premium for control of the company,” said Sabina Podval, an analyst at Leader & Co. Investment House Ltd. Scailex Corp. (SCIX IT), which owns 44.54 percent of Partner, selected Deutsche Bank AG and Lazard Ltd. to manage the sale of its stake. Scailex climbed 7 percent, the most since Jan. 16, to 17.91 shekels.
Teva Pharmaceutical Industries Ltd. (TEVA IT), the world’s largest maker of generic drugs, rose 1.4 percent to 172.40 shekels, or $46.28. The U.S.-traded shares gained 2 percent to $46.04 yesterday.
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