Israel Stocks: Cellcom, Partner, Perrigo, Israel Chemicals

Israel’s TA-25 index declined the most since May 9, retreating 0.4 percent to 1,130.26 at 1:19 p.m. in Tel Aviv.

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

Cellcom Israel Ltd. (CEL) , Israel’s leading mobile phone provider, declined 2 percent to 43.37 shekels, the lowest intraday level since April 17. TheMarker reported that Golan Telecom Ltd. will start providing wireless services tomorrow. Partner Communications Co. (PTNR), the country’s second-largest mobile phone provider, dropped 1.8 percent to 26.51 shekels, the lowest level since April 22.

Israel Chemicals Ltd. (ICL) , which extracts minerals from the Dead Sea to make fertilizers and potash, dropped 1.3 percent to 40.33 shekels, the lowest intraday level since March 20. The price of corn dropped on a forecast of a rise in U.S. stockpiles.

Israel Land Development Co. Energy Ltd. (IE) advanced 4.2 percent to 0.862 shekel, the highest level since Jan. 19. The natural gas explorer said a unit has submitted a proposal in a Cyprus government tender for exploration and production rights of oil and gas at an offshore site.

Perrigo Co. (PRGO) advanced 2.1 percent to 391.20 shekels, the highest level since May 8. The U.S. shares of largest U.S. maker of generic over-the-counter drugs closed at $101.61 on May 11.

Prolor Biotech Inc. (PBTH) tumbled 5.4 percent, the most since April 15, to 20.35 shekels, or the equivalent of $5.33. The developer of therapeutic proteins priced an offering of 6.5 million shares at $5 each. The U.S.-traded shares declined 7.9 percent to $5.24 on May 11 when the company announced the pricing.

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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