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Israeli Stocks: D. Medical, Globe Exploration, Jerusalem Economy

April 17 (Bloomberg) -- Israel’s TA-25 Index advanced for the first time in four days, increasing 0.6 percent to 1,334.41 at the 4:30 p.m. close in Tel Aviv. Investors traded about 870 million shekels ($255 million) in shares and convertible securities.

Local markets will be closed April 18 and 19 and operate shortened trading sessions April 20 and 21 for the Passover holiday.

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

D. Medical Industries Ltd. (DMED IT) increased the most in two weeks, gaining 1 percent to 12.07 shekels. The developer of drug-delivery devices signed a standby equity purchase agreement with YA Global Investments L.P. whereby it will have the option to sell up to $10 million in shares to YA over a two-year period.

Globe Exploration LP (GLEX IT) dropped the most in six weeks, losing 6 percent to 0.047 shekel. The oil and gas explorer said the drilling start date at Ofek 1 will be postponed to as late as Aug. 1 because the company needs to import a new drilling machine.

Jerusalem Economy Ltd. (ECJM IT) gained to the highest since April 4, climbing 1.1 percent to 43.08 shekels. The company that leases office and industrial space raised gross proceeds of 199.2 million shekels from the sale of Series Zayin bonds.

Ravad Ltd. (RAVD IT) increased the most since March 24, jumping 3.7 percent to 8.994 shekels. The real-estate developer raised 53.2 million shekels from the sale of shares at 9.25 shekels each.

To contact the reporter 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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