Delek, Koor, Israel Corp, Hot: Israeli Equity Preview

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 1.7 percent to 1,211.08 in Tel Aviv.

Delek Drilling-LP (DEDRL IT): Israel’s Infrastructures Ministry granted Noble Energy Inc., the energy explorer’s partner in the Leviathan natural gas field, permission to drill at the Leviathan 3 site. Delek Drilling retreated 3.9 percent to 10.95 shekels. Avner Oil Exploration-LP (AVNRL IT), another partner in the project, declined 4.5 percent to 1.983 shekels and Ratio Oil Exploration 1992 LP (RATIL IT) lost 3.5 percent.

Hot Telecommunication System Ltd. (HOT IT): The cable and telecommunications company said Cool Holding Ltd. will exercise a call option to buy 10 million ordinary shares in the company from Yediot Communications Ltd. Hot fell 2.9 percent to 57.34 shekels.

Israel Corp. (ILCO IT): The holding company’s unit O.P.C. Rotem Ltd. signed an agreement to supply Granite Hacarmel Investments Ltd. (GRNT IT) and controlling shareholder Azrieli Group Ltd. (AZRG IT) with electricity. O.P.C. will supply power for a 10-year period starting at the end of 2012 with an option to extend the agreement for an additional five years. Israel Corp. dropped 2.3 percent to 3,575 shekels. Granite retreated 0.9 percent to 6.486 shekels and Azrieli was down 0.9 percent to 92.25 shekels.

Koor Industries Ltd. (KOR IT): The holding company completed the draft of a loan related to the closure of a stake sale in Tel Aviv-based Makhteshim-Agan Industries Ltd. (MAIN IT) to China National Chemical Corp. A number of additional documents to complete the sale are expected to be signed in the next few days and the deadline for the deal closure has been extended to Sept. 30, Koor said. Koor fell 1.3 percent to 61.49 shekels. Makhteshim advanced 1.2 percent to 18.69 shekels.

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