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Israel Stocks: Ampal-American, Bioline, Ceragon, Elbit Systems

May 17 (Bloomberg) -- Israel’s TA-25 Index was little changed gaining less than 0.1 percent to 1,288.51 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.3 billion shekels ($368 million) in shares and convertible securities.

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

Ampal-American Israel Corp. (AMPL IT) climbed the most since March 13, jumping 9.3 percent to 4.398 shekels. The owner of a 12.5 percent stake in East Mediterranean Gas Co. said gas deliveries to Israel may resume at the end of the month once new security measures have been implemented.

Separately, the company reported first-quarter net income of $17.2 million after a year-earlier loss.

Bioline RX (BLRX IT) gained for the first time in seven days, rising 1.3 percent to 1.906 shekels. The biopharmaceutical company said it’s developing BL-7030 for targeted cancer therapy.

Brainsway Ltd. (BRIN IT) climbed the most since Feb. 2, advancing 4 percent to 8.109 shekels. The developer of devices for neurological disorders will consolidate its shares on a one for four basis on May 23. The stock will begin trading on a consolidated basis May 24.

Ceragon Networks Ltd. (CRNT IT) tumbled the most since March 2009, dropping 6.6 percent to 37.61 shekels. The wireless networking-systems developer reported a first-quarter loss of $21.4 million after a profit of $3 million a year earlier.

Elbit Systems Ltd. (ESLT IT) climbed the most since April 11, adding 1.5 percent to 181.80 shekels. Israel’s biggest non-government defense contractor won an order worth $32.7 million to supply an unidentified Asian army with advanced training systems for its armor and infantry forces.

To contact the reporter on this story: Ronit Goodman in Tel Aviv at

To contact the editor responsible for this story: Claudia Maedler at

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