Israel Stocks: Israel Petrochemical, Medigus, Perrigo, Procognia

Israel’s TA-25 index gained for the fourth time in five days, rising less than 0.1 percent to 1,092.05 at 12:18 p.m. in Tel Aviv.

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

Israel Petrochemical Enterprises Ltd. (PTCH) (PTCH) advanced 2.1 percent to 7.15 shekels, the highest intraday level since Feb. 22. Israel Corp. (ILCO) has agreed to provide the maker of raw materials for plastics with shares of Oil Refineries Ltd. (ORL) should it need them as a credit collateral. Israel Corp. (ILCO IT) declined 0.1 percent to 2,281 shekels while Oil Refineries Ltd. (ORL IT) declined 0.8 percent to 2.054 shekels.

Medigus Ltd. (MDGS) rallied 10 percent, the most on an intraday basis since Feb. 1, to 0.689 shekel giving the Omer, Israel- based company a market value of 58 million shekels ($15 million). The maker of medical devices signed an initial agreement to market its SRS system in Greece and Cyprus.

Perrigo Co. (PRGO) , the largest U.S. maker of generic over-the-counter drugs, rose 2.6 percent to 400 shekels, or the equivalent of $105.18, the highest since the shares started trading in 2005. Perrigo closed at $105.8 in New York on March 2.

Procognia (Israel) Ltd. (PRCG) rallied 30 percent to 0.082 shekel, the highest since Dec. 4, giving the Ashdod, Israel-based company a market value of 14.9 million shekels ($3.9 million). The maker of pharmaceuticals signed an initial distribution agreement with China’s Cy-Tech for its Glycoscope analytical kit.

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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