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Israeli Stocks: Hot Telecommunication, Migdal, Clal, Perrigo

Dec. 5 (Bloomberg) -- Israel’s TA-25 Index rose 1.6 percent to close at a record 1,281.62 in Tel Aviv. Investors traded about 1.27 billion shekels ($351 million) in shares and convertible securities.

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

Gazit-Globe Ltd. (GLOB IT) climbed to the highest level in a month, adding 2.2 percent to 43.85 shekels. The real-estate company’s share-price estimate was raised to 46.6 shekels at Harel Finance Ltd.

Hot Telecommunication System Ltd. (HOT IT) rose to the highest since January 2008, increasing 3.8 percent to 57.44 shekels. The Israeli cable-television company signed a loan-refinancing agreement that will enable it to payout dividends and received an Internet service provider license from the Ministry of Communications.

Migdal Insurance & Financial Holding Ltd. (MGDL IT) fell for the fifth time in six days, dropping 1.9 percent to 7.116 shekels as a fire that killed 41 people and destroyed more than 10,000 acres of forest raged for a fourth day.

Perrigo Inc. (PRGO IT) climbed the most in more than two months, advancing 4.8 percent to 234.50 shekels. The manufacturer of over-the-counter pharmaceuticals was rated “buy” in new coverage at UBS AG.

To contact the reporters on this story: Ronit Goodman in Tel Aviv at rgoodman9@bloomberg.net;

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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