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Arko, Hapoalim, Hadera, Teva: Israel Equity Preview

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(Corrects Teva name in story first published April 21.)

April 21 (Bloomberg) -- The following stocks may rise or fall in Israeli markets. Stock symbols are in parentheses and prices are from the last close.

The benchmark TA-25 Index advanced 0.4 percent to 1,339.18 in Tel Aviv. The gauge is less than 0.1 percent below the record closing high of 1,340.31 reached Jan. 19. Local markets will close at 2:45 p.m. today for the Passover holiday.

Arko Holdings Ltd. (ARKO IT): The adviser to real-estate and financial companies said initial talks with Metis Capital Ltd. (MTIS IT) about a possible investment in subsidiary GPM Investments LLC ended without an agreement. Arko gained 4.9 percent to 0.149 shekel. Metis was unchanged at 9.001 shekels when it last traded March 17.

Bank Hapoalim Ltd. (POLI IT): Moody’s Investors Service lowered the global local-currency deposit ratings for Bankpozitif Kredi ve Kalkinma Bankasi AS, the Turkish unit of Israel’s second-largest lender by assets, to Ba1/Not-Prime from Baa3/Prime-3. Bank Hapoalim climbed 0.8 percent to 18.50 shekels.

Hadera Paper Ltd. (HAP IT): The maker of paper products said it received a temporary permit valid until May 30 that will allow wastewater to flow into the Hadera River. Hadera rose 0.6 percent to 269.20 shekels.

Teva Pharmaceutical Industries Ltd. (TEVA IT): Novartis AG sued the world’s largest maker of generic drugs in a U.S. court alleging infringement of patents for Myfortic, which is used to help prevent organ rejection in kidney-transplant patients. Teva fell 1.9 percent to 168.30 shekels.

To contact the reporter on this story: Sharon Wrobel in Tel Aviv at swrobel4@bloomberg.net

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

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