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Israeli Stocks: Cellcom, Delek, El Al, Partner Communications

May 25 (Bloomberg) -- Israel’s TA-25 Index dropped to the lowest level in more than seven months, sliding 2.1 percent to 1,224.17 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.9 billion shekels ($544.5 million) in shares and convertible securities.

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

Cellcom Israel Ltd. (CEL IT) retreated to the lowest since Sept. 7, declining 1.8 percent to 105.30 shekels. The country’s largest mobile-phone operator, was cut to “sell” from “neutral” at IBI-Israel Brokerage & Investments Ltd.

Delek Group Ltd. (DLEKG IT) dropped to the lowest in almost a year, tumbling 4.4 percent to 777 shekels. Israel’s Antitrust Authority is considering declaring Isaac Tshuva’s holding company and Noble Energy Inc. a monopoly in the natural-gas industry, TheMarker reported, without saying where it obtained the information.

El Al Israel Airlines Ltd. (ELAL IT) fell the most since Feb. 22, retreating 4.7 percent to 1.052 shekels. The country’s national carrier said first-quarter loss more-than-doubled to $42.9 million from $16.5 million year earlier.

Israel Corp. (ILCO IT) dropped the most since January, sliding 4.3 percent to 3,611 shekels. The U.S. imposed sanctions against Ofer Brothers Group, another business owned by the Ofer family, the holding company’s controlling shareholder, for doing business with Iran’s energy industry in ways that might bolster the country’s “illicit” nuclear activities.

Partner Communications Co. (PTNR IT) lost 4 percent to 59.99 shekels, the lowest since July. The country’s second-largest mobile-phone operator first-quarter net income tumbled 25 percent to 254 million shekels from 337 million shekels a year earlier. The shares were lowered to “market perform” from “outperform” at Clal Finance Brokerage Ltd.

To contact the reporter on this story: Sharon Wrobel in Tel Aviv at

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

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