Allot Climbs on Mobile Growth: Israel Overnight
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Allot Communications Ltd. surged to a six-month high in New York on prospects the Israeli maker of technology used to track wireless traffic will benefit from a rebound in mobile provider spending in the second half of 2013.
The shares gained 7.3 percent to $15.55, swelling the premium versus the stock in Tel Aviv to 1.3 percent. The Bloomberg Israel-US Equity Index increased 0.2 percent to 98.04, the highest price since August 2011. Compugen Ltd., an Israeli biotechnology company, rallied 45 percent after signing a cancer drug deal with Bayer AG. Cellcom Israel Ltd. closed at the biggest premium among the largest dual-listed companies.