Israel Stocks: Ampal, Delek, D-Pharm, Modiin, Kamada, Tower

Israel’s TA-25 index rose for a third time this week, advancing 0.3 percent to 1,162.48 at 12:52 p.m. in Tel Aviv. The measure was little changed this week.

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

Ampal-American Israel (AMPL) Corp tumbled to the lowest since April 23, falling 7 percent to 0.70 shekel. The owner of a 12.5 percent stake in East Mediterranean Gas Co. said it filed a request for arbitration against Egypt with other EMG investors for the breach of the bilateral investment treaty between Egypt and the U.S.

Delek Real Estate Ltd. (DLKR) plunged the most since April 16, declining 9.1 percent to 0.159 shekel. The property company said the Tel Aviv District Court has approved a liquidation request by series B25 bondholders. The court appointed a temporary liquidator to reach a debt agreement.

D-Pharm Ltd. (DPRM) climbed 1.6 percent to 0.984 shekel. The biopharmaceutical company received $2.4 million to date from a Chinese partner for the development of an epilepsy drug.

Modiin-LP (MDINL) advanced the most since April 5, adding 4.7 percent to 0.355 shekel. Noble Energy Inc. suspended drilling operations in the Leviathan offshore field.

Kamada Ltd. (KMDA) rose for the first time in four days, gaining 2 percent to 26.51 shekels. The biopharmaceutical company is in talks with potential partners to help sell an inhaled version of its AAT medicine in Europe, Chief Executive Officer David Tsur said in an interview.

Tower Semiconductor Ltd. (TSEM) advanced 3.2 percent to 3.799 shekels. The maker of customized chips entered a partnership with Rachip to provide external solutions and services to assist its customers with computer-aided design, quality assurance and run-set development.

To contact the reporter on this story: David Wainer in Tel Aviv at dwainer3@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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