Israel Stocks: Bezeq, Rami Levi, Partner Communications, DS Apex

Israel’s TA-25 index declined for a second day, falling 0.4 percent to 1,105.22 at 1:30 p.m. in Tel Aviv.

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

Bezeq Israeli Telecommunication Corp. (BEZQ) retreated 2.4 percent to 6.17 shekels, the lowest since March 12. The communication ministry won’t ease regulation for the country’s largest fixed-line operator, TheMarker website reported today. Yechiel Shabi, a spokesman for the ministry, declined to comment.

DS Apex Holdings Ltd. (DSAP) surged 23 percent, the most since October 2008, to 17.39 shekels. The board of the investment management services provider approved a merger with Meitav Investment House Ltd.

Israel Land Development Co. Energy Ltd. (IE) increased 3.4 percent to 0.678 shekel, the highest intraday level since Feb. 28. The natural gas exploration company signed a loan accord with an Israeli bank for $10 million.

Ituran Location and Control Ltd. (ITRN IT) lost the most since Feb. 19, declining 3.3 percent to 50.92 shekels, or the equivalent of $13.58. The U.S.-traded shares lost 3 percent to $13.86 yesterday.

Modiin-LP (MDINL IT) headed for the biggest gain since March 13, advancing 2 percent to 0.353 shekel. The oil and gas explorer said its fourth-quarter loss narrowed to $2.45 million from $10.7 million a year earlier.

Partner Communications Co. (PTNR) declined 1.1 percent to 27.81 shekels, or the equivalent of $7.42. The U.S. traded shares of Israel’s second-largest mobile-phone operator dropped 4.4 percent to $7.44 yesterday on concern the stock will extend declines after a report said former shareholder Hutchison Whampoa Ltd. won’t reinvest in Partner.

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. (RMLI) dropped 2.4 percent, the most since March 6, to 126.90 shekels. The operator of supermarket chains in Israel said net income fell to 20 million shekels ($5.3 million) from 24.2 million shekels a year earlier.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.