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Azorim, Israel Land, Mizrahi, Teva: Israeli Equity Preview

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Dec. 9 (Bloomberg) -- The following stocks may rise or fall in the Israeli market. Stock symbols are in parentheses after company names and prices are from the last close unless otherwise stated.

The TA-25 Index dropped 0.2 percent to 1,292.52 in Tel Aviv.

Azorim Investment, Development & Construction Co. (AZRM IT): Mizrahi Tefahot Bank Ltd. (MZTF IT) is in talks with investors to complete the sale of Azorim by the end of the month, TheMarker reported. A Mizrahi spokesman wasn’t immediately available for comment when contacted by Bloomberg. Azorim fell 0.6 percent to 15.56 shekels. Mizrahi Tefahot rose 2.4 percent to 39.85 shekels.

Israel Land Development Co. (ILDC IT): The real estate holding company’s planned sale of as much as 150 million shekels of bonds received an updated Baa1 rating from Moody’s Midroog. Israel Land dropped 1.3 percent to 37 shekels.

Teva Pharmaceutical Industries Ltd. (TEVA IT): The world’s largest maker of generic drugs, said its laquinimod medicine was successful in reducing annualized relapse rates in multiple sclerosis patients in a final-stage test. Teva fell 0.8 percent to 177.70 shekels.

To contact the reporter on this story: Jonathan Ferziger in Tel Aviv at jferziger@bloomberg.net

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

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