Israel Stocks: Cellcom, Bezeq, Partner, Redhill, Azrieli, Hot

Israel’s TA-25 index headed for the biggest advance since May 16, rising 1 percent to 1,061.21 at 12:54 p.m. in Tel Aviv.

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

Azrieli Group Ltd. (AZRG) advanced 2.8 percent, the most since April 16, to 90.50 shekels. The property investment company said first-quarter net income climbed to 184.4 million shekels from 162.3 million shekels a year earlier.

Bezeq Israeli Telecommunication Corp. (BEZQ) , the country’s largest fixed-line provider, advanced 6 percent, the most since April 17, to 4.494 shekels. “The prices of cellular companies are correcting” after “drops of between 20 to 40 percent in the last month,” Ori Licht , the head of research at I.B.I.-Israel Brokerage & Investments Ltd., said by phone today. “At these levels the share prices reflect a very pessimistic scenario.”

Cellcom Israel Ltd. (CEL) , the country’s largest mobile- phone provider, advanced 5.3 percent to 30.33 shekels, the most since April 18. Partner Communications Co. (PTNR) , Israel’s second-largest mobile-phone provider, added the most since April 18, jumping 4.2 percent to 17.92 shekels. Hot Telecommunication System Ltd. (HOT) , a fixed-line and mobile-phone operator, gained 4.2 percent to 31.27 shekels.

Redhill Biopharma Ltd. (RDHL) surged 18 percent to 2.723 shekels, the most since April 17, increasing the company’s market value to 141 million shekels ($36.6 million). The pharmaceutical company said a pivotal clinical trial of its migraine drug was successful.

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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