Israel Stocks: Compugen, Delek Drilling, Avner, Satcom Systems

Israel’s TA-25 Index advanced to the highest intraday level since Jan. 26, gaining 0.7 percent to 1,129.34 at 3:12 p.m. in Tel Aviv.

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

Avner Oil Exploration LLP (AVNRL) jumped 2.1 percent to 2.645 shekels and Delek Drilling-LP (DEDRL) advanced 2 percent to 15.22 shekels. The oil and natural gas companies said there are “significant signs” of natural gas at the Tanin 1 site.

Ampal-American Israel (AMPL) Corp declined 3.1 percent, the most since Feb. 1, to 1.27 shekels. Ampal, owner of 12.5 percent of East Mediterranean Gas Co., said the supply of Egyptian natural gas to Israel was halted after an explosion overnight at the Sinai pipeline grid that carries the gas. East Mediterranean Gas supplies the gas.

Compugen Ltd. (CGEN) surged the most since Sept. 18, rising 15 percent to 21.95 shekels, or the equivalent of $5.92. The U.S. shares of the the developer of computational genomic products jumped 7.7 percent last week, to close at $5.89 on Feb. 3 on speculation the use of one of its products in cancer treatment research will boost revenue.

Satcom Systems Ltd. (STCM) tumbled 18 percent, the biggest intraday decline since Aug. 10, to 2.38 shekels. The communications services provider said Eurocom Communication Ltd.’s offer to acquire the shares that it doesn’t already own was rejected.

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

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