Israel Stocks: Amot, Enlight, IDB Holding, Clal, Teva, Mellanox
Israel’s TA-25 index dropped to the lowest level since February 28, retreating 0.8 percent to 1,072.77 at 4:30 p.m. in Tel Aviv. Investors traded about 835 million shekels ($218 million) of shares and convertible securities, according to bourse data.
The following stocks rose or fell today. Symbols are in parentheses.
Amot Investments Ltd. (AMOT) advanced the most since April 17, gaining 1.3 percent to 9.07 shekels. The real estate developer said first-quarter net income increased to 44.9 million shekels ($12 million) from 36.5 million shekels a year earlier.
Enlight Renewable Energy Ltd. (ENLT) advanced 2.6 percent, the most since May 14, to 0.237 shekel. The developer of photo-voltaic systems secured bank funding for two projects.
IDB Holding Corp. (IDBH) added 1.7 percent, the most since May 8, to 19 shekels. The holding company said its IDB Development Corp. unit agreed to sell a 49.9 percent stake of Clal Industries and Investments Ltd. (CII IT). Clal Industries advanced 3.8 percent, the most since March 1. Discount Investment Corp. (DISI) , a unit of IDB Development, dropped 1.1 percent to 8.80 shekels.
Mellanox Technologies Ltd. (MLNX) dropped 5.8 percent, the biggest slump since Nov. 20, to 209.50 shekels, or the equivalent of $54.79. The shares of the developer of technology used to transfer and store data quickly lost 6.8 percent in the last two days of trading in New York and closed at $54.12 on May 18.
Reit 1 Ltd. (RIT1) (RIT1 IT) advanced 1.7 percent to 6.813 shekels. Shmuel Sayad, chief executive officer, said in an interview a slowdown in Israeli economic growth would give the country’s first real-estate investment trust a chance to invest in more properties at better prices.
Teva Pharmaceutical Industries Ltd. (TEVA) dropped 3.6 percent, the biggest decline since Oct. 4, to 150.40 shekels, or the equivalent of $39.33. The shares of the world’s largest generic drugmaker in New York fell 7 percent last week to close at $38.90 on May 18.
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