Israeli Stocks: Azorim, Itamar, Jerusalem Economy, Strauss

Israel’s TA-25 Index declined to the lowest in almost two weeks, retreating 0.3 percent to 1,302.98 at the 4:30 p.m. close in Tel Aviv. The measure has gained 14 percent this year. Investors traded about 1.32 billion shekels ($369 million) in shares and convertible securities.

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

Azorim-Investment Development & Construction Co. (AZRM IT) increased the most in more than two months, climbing 6.7 percent to 17.05 shekels. The Marker reported Shikun & Binui Ltd. (SKBN IT) is preparing an offer to buy the real estate developer.

A spokeswoman for Shikun & Binui said the company is looking at Azorim, as it does at other business deals, and hasn’t made an offer yet. Shikun & Binui slipped 0.4 percent to 9.676 shekels.

Itamar Medical Ltd. (ITMR IT) slid to the lowest level since October 2009, falling 2.7 percent to 1.767 shekels. The maker of medical-diagnostic equipment raised about 12 million shekels in a sale of 16,019 units consisting of shares and options. The company had offered to sell 20,000 units.

Jerusalem Economy Ltd. (ECJM IT) advanced the most in more than three weeks, gaining 3 percent to 42.35 shekels. The company that leases office and industrial space was raised to “buy” from “market perform” at Psagot Investment House Ltd.

Strauss Group Ltd. (STRS IT) climbed to the highest since Nov. 2, adding 1.4 percent to 57.66 shekels. Strauss Holdings Ltd. sold about 5.3 million shares of the maker of food products, reducing its fully diluted stake to about 66 percent. Bank Hapoalim Ltd. (POLI IT) said it bought the 4.9 percent stake as part of a financial strategy to diversify its investments. Hapoalim fell 1 percent to 17.93 shekels.

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