Israel Stocks: Elad Canada, Kardan, WideMed, Strauss, Osem

Israel’s TA-25 index increased for a fifth day, advancing 0.1 percent to 1,090.48 at 1:47 p.m. in Tel Aviv.

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

Elad Canada Inc. (ELCN) soared 14 percent, the most since listing in September 2010, to 11.30 shekels. The real estate company agreed to sell buildings in Toronto for C$282.5 million ($275 million).

Kardan Real Estate Enterprise & Development Ltd. (KARE) advanced 16 percent, headed for the biggest gain on record, to 1.089 shekels, giving the company a market value of 199 million shekels ($51 million). The real estate developer said it will sell property rights for 26.5 million shekels.

Suny Electronics Ltd. (SUNY) declined 3 percent to 6.39 shekels. Psagot Investment House Ltd., which holds bonds of Scailex Corp. (SCIX) , said last week an agreement to sell 75 percent of Scailex to a group including Hutchison Whampoa Ltd. (13) wasn’t in bondholders’ interest. Scailex declined 7.8 percent to 8.161 shekels. Partner Communications Co. (PTNR) , in which Scailex holds a 44.5 percent stake, dropped 1.5 percent to 18 shekels. “There is uncertainty about the deal and the shares are not reacting well,” said Ori Licht, head of research at I.B.I.-Israel Brokerage & Investments Ltd.

Strauss Group Ltd. (STRS) advanced 2.6 percent to 42.20 shekels, the highest intraday level since May 28. Osem Investments Ltd. (OSEM) advanced 2.2 percent to 55.10 shekels, the highest since May 28.

“The shares are correcting off recent lows,” Gil Dattner, an analyst at Tel Aviv-based Bank Leumi Le-Israel (LUMI) Ltd. said today by phone. “They declined last month on concern about the

Strauss tumbled 8 percent in May and Osem lost 6.2 percent.

WideMed Ltd. (WDMD) advanced 20 percent to 0.40 shekels, the highest level since Feb. 21. The provider of bio-medical signal diagnostics and treatment said it received a first order from GE Healthcare for its newly configured Morpheus HX systems for a hospital in the U.S.

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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