Israel Stocks: Cellcom Israel, Partner, Hot, Bezeq Israeli

Israel’s TA-25 index dropped the most since Feb. 26, retreating 1.9 percent to 1,090.88 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1 billion shekels ($261 million) of shares and convertible securities, according to bourse data.

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

Cellcom Israel Ltd. (CEL) , Israel’s largest mobile-phone provider, tumbled the most on record, declining 9.6 percent to 37.50 shekels. The company said first-quarter profit declined to 173 million shekels ($45 million) from 306 million shekels.

Cellcom’s rating was cut to underperform at Harel Finance Ltd. and Excellence Nessuah Investment House Ltd.

Partner Communications Co. (PTNR) , the country’s second- biggest cellular company, lost 8.2 percent to 23.59 shekels, the lowest level since September 2003. Hot Telecommunication System Ltd. (HOT) declined 8.7 percent to 34.50 shekels. Bezeq Israeli Telecommunication Corp. (BEZQ) dropped 4.3 percent to 4.9 shekels. Golan Telecom Ltd. and Hot started their wireless services yesterday.

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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