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Africa Israel, Israel Chemicals, Teva :Israel Equity Preview

May 16 (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 percent to 1,277.74 in Tel Aviv.

Africa Israel Industries Ltd. (AFID IT): The steel, ceramics and plastics importer said first-quarter net income climbed 15 percent to 18.2 million shekels ($5.2 million) from the year-earlier period. Africa gained 0.3 percent to 261.70 shekels, when it last traded May 12.

Cellcom Israel Ltd. (CEL IT): The telecommunications company said first-quarter net income fell to 306 million shekels from 314 million shekels in the year-ago period. The shares declined 0.5 percent to 109.2 shekels.

Elbit Systems Ltd. (ESLT IT): The defense-system maker said first-quarter net income fell to $27.9 million from $49.8 million. The shares lost 1.2 percent to 179.8 shekels.

Golf & Co. (GOLF IT): The apparel retailer said first-quarter net income tumbled 74 percent to 6.3 million shekels. Golf fell 1.2 percent to 17.93 shekels.

Hadera Paper Ltd. (HAP IT): The manufacturer of paper and paper products said first-quarter profit jumped 70 percent to 41.2 million shekels. Hadera Paper declined 2.9 percent to 252.40 shekels.

Israel Chemicals Ltd. (ICL IT): The company that extracts minerals from the Dead Sea to make fertilizer said first-quarter profit rose 16 percent to $279.7 million. Israel Chemicals retreated 0.7 percent to 56 shekels.

Orckit Communications Ltd. (ORCT IT): The maker of telecommunications equipment plans to sell up to 80 million shekels of bonds. Orckit lost 3 percent to 9.411 shekels.

Property & Building Corp. (PTBL IT): The real-estate company said first-quarter net income fell 62 percent to 22 million shekels. Property & Building dropped 2.3 percent to 301.3 shekels.

Teva Pharmaceutical Industries Ltd. (TEVA IT): The world’s largest maker of generic drugs agreed to buy 57 percent of Taiyo Pharmaceutical Industry Co. for $460 million in cash. Taiyo is the third-largest generic pharmaceutical company in Japan. Teva rose 1.5 percent to 172.50 shekels.

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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