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Israel Stocks: Delek Group, TAT Technologies, Teva Industries

May 16 (Bloomberg) -- Israel’s TA-25 Index advanced for the first time in three days, increasing 0.8 percent to 1,288.27 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.47 billion shekels ($417 million) in shares and convertible securities.

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

Delek Group Ltd. (DLEKG IT) gained for the first time in three days, climbing 2.3 percent to 839 shekels. Harel Finance Ltd. initiated coverage of Isaac Tshuva’s holding company with a “buy” recommendation and a price estimate of 1,048 shekels.

TAT Technologies Ltd. (TATTF IT) surged the most since March 21, jumping 4.7 percent to 18.94 shekels. The maker of defense systems signed a five-year contract with the U.S. army valued at as much as $20 million.

Teva Pharmaceutical Industries Ltd. (TEVA IT) climbed to the highest level since April 7, advancing 2 percent to 176 shekels. The world’s biggest generic-drug maker, which today agreed to buy 57 percent of Taiyo Pharmaceutical Industry Co., is aiming for market share of as much as 20 percent in Japah, compared with less than 10 percent now and may issue debt to pay for the rest of Taiyo, Chief Executive Officer Shlomo Yania said.

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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