Israel Stocks: Allot, Mellanox, EZchip, Harel, Migdal Insurance

Israel’s benchmark TA-25 index declined to its lowest level since June 28, sliding 0.7 percent to 1,067.22 at the 4:30 p.m. close in Tel Aviv. The gauge has retreated 1.5 percent this week. Investors traded about 761 million shekels ($191 million) of shares and convertible securities, according to bourse data.

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

Allot Communications Ltd. (ALLT) dropped 6 percent, the most since Feb. 12, to 90.32 shekels, or the equivalent of $22.72. The shares of the maker of software to regulate traffic on networks dropped to $22.69 in New York yesterday.

EZchip Semiconductor Ltd. (EZCH) declined 4.3 percent to 134.2 shekels, or the equivalent of $33.76, the lowest since Feb. 7. The New York-traded shares of the Israeli developer of network processors fell 4.3 percent to $33.74 yesterday.

Harel Insurance Investments & Financial Services Ltd. (HARL) dropped 3.6 percent to 105 shekels, the lowest level since April 2009. Migdal Insurance & Financial Holding Ltd. (MGDL) declined 4.7 percent to 3.916 shekels, also the lowest level since April 2009. The insurers said updated Finance Ministry life-expectancy figures may lead to higher provisions.

Kardan NV (KRNV) jumped 9.2 percent, the most since June 7, to 2.321 shekels, giving the company a market value of 259 million shekels. The Amsterdam-based investor in real estate and financial services said it plans to repurchase as much as 50 million euros ($61 million) in debentures.

Medical Compressions Systems (DBN) Ltd. (MDCL) advanced 5 percent, the most since July 2, to 2.539 shekels. The maker of non-invasive blood circulation systems said Food and Drug Administration examiners will recommend retracting a product warning.

Mellanox Technologies Ltd. (MLNX) declined 5.2 percent, to 261 shekels, the lowest level since June 14, and the equivalent of $65.66. The U.S.-traded shares slumped 4.1 percent to $66.20 yesterday.

Perrigo Co. (PRGO) declined 1.6 percent to 449 shekels, the lowest since June 25. The largest U.S. generic over-the- counter drugmaker was cut to hold from buy at Canaccord Genuity Corp.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at

To contact the editor responsible for this story: Claudia Maedler at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to 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.