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

Israel’s TA-25 index declined to the lowest level since May 23, sliding 0.7 percent to 1,049.18 at the 4:30 p.m. close in Tel Aviv. The gauge has lost 9.9 percent this month. Investors traded about 910 million shekels ($235 million) of shares and convertible securities, according to bourse data.

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

Allot Communications Ltd. (ALLT) advanced the most since May 1, surging 7.6 percent to 101 shekels, or the equivalent of $26.03. The U.S.-traded stock of the Israeli maker of high-speed networking equipment added 10.5 percent to $26.40 in New York yesterday.

Delek Group Ltd. (DLEKG) declined 3.4 percent to 605.5 shekels, the lowest level since Oct. 3. The holding company with interests in energy, infrastructure and automobiles, said first-quarter profit dropped 48 percent to 110 million shekels.

Israel Corp. (ILCO) dropped the most in a week, retreating 2.3 percent to 2,122 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.

Ituran Location and Control Ltd. (ITRN IT) fell 5.7 percent to 45.81 shekels, the lowest level since Nov. 27. The maker of systems for locating stolen vehicles said first-quarter net income dropped 21 percent to $5.1 million.

Jerusalem Economy Ltd. (ECJM) declined 2.7 percent to 23.36 shekels, the lowest since May 20. The operator of office, industrial and commercial buildings posted a first-quarter loss of 37.6 million shekels after a profit of 167 million shekels a year earlier.

Migdal Insurance & Financial Holding Ltd. (MGDL) declined 1.3 percent to 5.141 shekels, the lowest level since May 21. The insurance holding company said first-quarter net income declined 20 percent to 90.7 million shekels.

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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