Israel Stocks: El Al, Granite Hacarmel, Israel Chemicals, Hot

Israel’s TA-25 index headed for the highest close since Feb. 22, advancing 0.8 percent to 1,116.89 at 1:38 p.m. in Tel Aviv.

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

El Al Israel Airlines Ltd. (ELAL) declined as much as 3.1 percent, the biggest intraday drop since Feb. 28, to 0.47 shekel. The shares last traded at 0.481 shekel. The country’s national carrier reported a fourth-quarter loss of $7.8 million after a profit of $16.3 million in the same quarter a year earlier.

Granite Hacarmel Investments Ltd. (GRNT) , a marketer of petroleum and automobile products, climbed 5.3 percent to 5.068 shekels, the highest since Feb. 14. TheMarker reported that Azrieli Group Ltd. (AZRG) received an offer for the purchase of its Sonol Israel Ltd. unit. Azrieli shares increased 0.8 percent to 88.55 shekels. Sonol is wholly-owned by Granite, according to data on the company’s website. Azrieli’s subsidiary Kanit Hashalom Investments Ltd. holds a 60.7 percent stake in Granite, according to data compiled by Bloomberg.

Hot Telecommunication System Ltd. (HOT) advanced 3.1 percent to 42.10 shekels, the highest intraday level since March 11. Israel’s second-largest fixed-line operator said net income rose to 125 million shekels ($33 million) from 46 million shekels a year earlier.

Israel Chemicals Ltd. (ICL) , a maker of fertilizer and potash, advanced for a second day, climbing 2.4 percent to 42.43 shekels. China signed an accord yesterday to buy potash at a price that signaled the market for the commodity is holding up. Israel Corp. (ILCO) , which holds a 52.3 percent in Israel Chemicals according to data compiled by Bloomberg, advanced 1.7 percent to 2,591 shekels.

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