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Israel Stocks: Avgol, Protalix, Tapuz, Teva Pharmaceutical, XTL

March 24 (Bloomberg) -- Israel’s TA-25 Index dropped for a second day, declining 0.3 percent to 1,280.44 at the 4:30 p.m. close in Tel Aviv, trimming the gain for the week to 1 percent. Investors traded about 3.37 billion shekels ($946.6 million) in shares and convertible securities.

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

Avgol Industries 1953 Ltd. (AVGL IT) gained for the third time this week, advancing 1.7 percent to 2.691 shekels. The fabric manufacturer said fourth-quarter net income increased to $5.5 million from $3.1 million.

Protalix BioTherapeutics Inc. (PLX IT) increased for the first time in five days, climbing 1.9 percent to 21.47 shekels. The biotechnology company plans to start clinical trials of a drug to treat Fabry disease this year and a medication against rheumatoid arthritis in early 2012.

Tapuz People Ltd. (TPUZ IT) rose to the highest level since March 6, gaining 3.6 percent to 3.542 shekels. The designer of Internet websites said 2010 net income rose to 3.69 million shekels from 2.19 million shekels in 2009.

Teva Pharmaceutical Industries Ltd. (TEVA IT) climbed the most since Jan. 9, advancing 3.4 percent to 178.60 shekels. The world’s largest maker of generic drugs agreed to form a consumer-health venture with Procter & Gamble Co.

XTL Biopharmaceuticals Ltd. (XTLB IT) soared the most since March 9, jumping 8.6 percent to 0.504 shekel. The biopharmaceutical company signed a letter of principles to acquire an exclusive license to all of MinoGuard Ltd.’s technology in exchange for royalty and milestone payments throughout the clinical development process.

To contact the reporters on this story: Susan Lerner in Tel Aviv at slerner2@bloomberg.net; 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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