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Africa-Israel, Gilat, Ormat, Paz Oil: Israeli Equity Preview

May 8 (Bloomberg) -- The following stocks may rise or fall in Israeli markets. Stock symbols are in parentheses after the company names and prices are from the last close unless otherwise stated.

The TA-25 Index lost 1.2 percent to 1,277.24 in Tel Aviv.

Africa-Israel Investments Ltd. (AFIL IT): Richard Marin, former chief executive officer of Africa Israel USA sued the unit of Lev Leviev’s holding company and its Israel-based parent to recover a $1.25 million bonus saying he was fired after uncovering “serious instances of self-dealing and conflict of interest.” Africa Israel dropped 1.5 percent to 27.28 shekels.

Gilat Satellite Networks Ltd. (GILT IT): The developer of satellite network technology was chosen for an Australian project with a potential value of as much as $120 million over five years. Gilat declined 0.8 percent to 15.60 shekels.

Granite Hacarmel Investments Ltd. (GRNT IT): The holding company said it stopped supplying fuel to airplanes through Paz Oil Co. because of concern about contamination. Granite fell 2.8 percent to 6.851 shekels.

Ormat Industries Ltd. (ORMT IT): The U.S. unit of the builder and operator of geothermal was lowered to “underperform” from “inline” at Imperial Capital LLC. Ormat slipped 0.4 percent to 23.45 shekels.

Paz Oil Co. (PZOL IT): The energy company said it is using fuel tankers to provide fuel for planes to take off from Ben Gurion Airport after possible contamination was supected in its airport tanks.

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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