Israel Stocks: Africa Israel Industries, Bank Leumi, Ormat

Israel’s TA-25 index advanced for the third time in four days, gaining 0.3 percent to 1,112.51 at 3:21 p.m. in Tel Aviv.

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

Africa Israel Industries Ltd. (AFID) increased 1.8 percent, the biggest intraday gain since Feb. 19, to 262 shekels. The importer of steel coils and bobbins said net income for the period climbed to 14.8 million shekels ($3.95 million) from 8.7 million shekels in the year-earlier period. Africa Israel Investments Ltd. (AFIL) , which holds a 76.6 percent stake in Africa Israel Industries, rose 4.9 percent to 13.94 shekels.

Bank Leumi Le-Israel Ltd. (LUMI IT) climbed 2.3 percent to 11.70 shekels, the highest intraday level since Feb. 26. A local website reported investor Haim Saban and outgoing Leumi Chief Executive Officer Galia Maor may be looking to acquire a stake in the country’s largest bank by assets. Calls and an e- mail sent to the Bank Leumi’s media office weren’t immediately replied. Moshe Debby, a spokesman for Saban Capital Group in Israel declined to comment.

Ormat Industries Ltd. (ORMT IT) jumped 5.2 percent to 17.78 shekels, the highest intraday level since Jan. 31. The developer of geothermal power plants agreed to sell a 12 percent stake to Fimi Opportunity Funds for about 297 million shekels or 21.7 shekels a share. Separately, the company said its fourth-quarter loss narrowed.

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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