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Israeli Stocks: Ampal-American, Modiin, Teva Pharmaceutical

Dec. 26 (Bloomberg) -- Israel’s TA-25 Index gained for the first time in four days, increasing 0.2 percent to 1,307.44 at the 4:30 p.m. close in Tel Aviv, bringing the gain this year to 14 percent. Investors traded about 1.21 billion shekels ($336.6 million) in shares and convertible securities.

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

Ampal-American Israel Corp. (AMPL IT) advanced to the highest level in almost two weeks, adding 2.2 percent to 8.499 shekels. The holding company’s 12.5 percent-owned East Mediterranean Gas Co. is in talks to sell $1 billion worth of natural gas to two units of Clal Industries & Investments Ltd. (CII IT), Globes reported, without saying where it got the information. Spokesmen for Clal and Ampal declined to comment on the report.

Itamar Medical Ltd. (ITMR IT) slid to the lowest since May 25, falling 11 percent to 1.816 shekels. The maker of medical diagnostic equipment is offering up to 8 million shares and 2.5 million options in 20,000 units for at least 760 shekels per unit, or about 1.90 shekels a share.

Modiin LP (MDINL IT) gained the most in almost two weeks, rising 2.1 percent to 0.049 shekel. The gas and oil explorer said it began a 3-D seismic survey on its 383 license site.

Teva Pharmaceutical Industries Ltd. (TEVA IT) climbed the most since Dec. 9, increasing 2.9 percent to 187.70 shekels. The failure of the world’s largest maker of generic drugs to win U.S. approval for a new formulation of its multiple sclerosis drug Copaxone may indicate it will be more difficult for competitors to enter the market, according to Citigroup Inc.

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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