Breaking News

Tweet TWEET

Israel Stocks: Allot, Israel Corp., Migdal, Jerusalem Economy

Israel’s TA-25 index declined to its lowest intraday level since May 24, sliding 0.7 percent to 1,049.12 at 11:24 a.m. in Tel Aviv. The gauge has dropped 9.9 percent this month.

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

Allot Communications Ltd. (ALLT) headed for the highest close on record, advancing 7.9 percent to 101.3 shekels, or the equivalent of $26.12. The U.S.-traded stock of the Israeli maker of high-speed networking equipment added 11 percent to $26.40 in New York yesterday.

Israel Corp. (ILCO) headed for the biggest drop in a week, retreating 1.7 percent to 2,134 shekels. The holding company with investments in shipping, chemicals and construction, said its loss widened to $82 million from $57 million in the same period last year.

Migdal Insurance & Financial Holding Ltd. (MGDL) declined 1.8 percent to 5.111 shekels, the lowest intraday level since May 22. The insurance holding company said first-quarter net income declined 20 percent to 90.7 million shekels ($23.4 million) from 112.9 million shekels in the same period a year earlier.

Jerusalem Economy Ltd. (ECJM) declined 2.5 percent, the most since May 24 in intraday trading, to 23.40 shekels. The operator of office, industrial and commercial buildings, posted a loss of 37.6 million shekels in the first quarter after a profit of 167 million shekels a year earlier.

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

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.