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British-Israel, First International, Teva: Israel Equity Preview

Dec. 5 (Bloomberg) -- The following stocks may rise or fall in Israeli markets. Stock symbols are in parentheses after the company names and prices are from the close unless otherwise stated.

The TA-25 Index gained 0.5 percent to 1,261.73 in Tel Aviv.

British-Israel Investments Ltd. (BRTS IT): The real estate investment company said a unit signed an agreement to buy property adjacent to the Sharon Mall in Netanya for 35 million shekels ($9.7 million). British-Israel gained 1.7 percent to 12.51 shekels.

First International Bank of Israel Ltd. (FTIN IT): Israel’s fifth-largest bank denied a report in TheMarker business daily that it is in talks to merge with the country’s fourth-largest lender, Mizrahi Tefahot Bank Ltd. First International decreased 0.1 percent to 53.25 shekels.

Hot Telecommunication System Ltd. (HOT IT): The cable television company will receive an Internet services provider license today from the Ministry of Communications, TheMarker reported, without saying where it got the information. Hot rose 3.5 percent to 55.33 shekels.

Perrigo Inc. (PRGO IT): The manufacturer of over-the-counter pharmaceuticals was rated new “buy” at UBS AG with a share-price estimate of $72. Perrigo was little changed at 223.70 shekels.

Teva Pharmaceutical Industries Ltd. (TEVA IT): Momenta Pharmaceuticals Inc., which receives royalties from the only approved generic version of the blood thinner Lovenox, filed a patent-infringement suit to block a potential rival drug from Teva. Teva, the world’s largest maker of generic drugs, said the suit is “without merit” and it intends to seek reimbursement for all legal fees. Teva dropped 1.4 percent to 183 shekels.

To contact the reporter on this story: Calev Ben-David in Jerusalem at cbendavid@bloomberg.net

To contact the editor responsible for this story: Peter Hirschberg in Jerusalem at phirschberg@bloomberg.net

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