Israel Stocks: Bank Leumi, EZchip, Given, Hapoalim, Ormat, Teva

Israel’s TA-25 index declined to the lowest level since April 15, losing 1.3 percent to 1,130.83 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.22 billion shekels ($319 million) of shares and convertible securities, according to bourse data.

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

Bank Leumi Le-Israel Ltd. (LUMI) , Israel’s largest bank by assets, fell 3 percent to 11.22 shekels, the lowest level since March 14. Moody’s Investors Service cut the outlook for the country’s banking system to negative from stable. Bank Hapoalim Ltd. (POLI) , the second-largest bank, dropped 2.7 percent to 13.56 shekels, the lowest close since March 21.

EZchip Semiconductor Ltd. (EZCH) slid 3.5 percent to 148 shekels, or the equivalent of $38.74. The shares of the Yokneam, Israel-based developer of network processors slid 3.6 percent to $38.43 in New York yesterday.

Given Imaging Ltd. (GIVN) lost 2.9 percent to 69.02 shekels, the lowest level since Feb. 14. The maker of capsule- sized cameras for diagnosing digestive ailments said first- quarter net income retreated to $201,000 from $677,000 a year earlier.

Ormat Industries Ltd. (ORMT) jumped 4.8 percent to 19.46 shekels, the highest level since Dec. 13. The U.S. unit of the developer and operator of geothermal energy power plants reported net income of $8 million in the first quarter after a loss last year.

Teva Pharmaceutical Industries Ltd. (TEVA) retreated 2.4 percent to 165.5 shekels, the lowest level since March 29. The world’s largest maker of generic drugs said first-quarter sales missed estimates, held back by a slowdown in European demand for generic medicines and lower-than-expected sales of its branded Copaxone multiple sclerosis drug.

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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