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Leumi, Hapoalim, Hot, Migdal: Israeli Equity Preview

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(Corrects to show net income from regular operations in Leumi entry.)

Aug. 31 (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 0.1 percent to 1,121.17 in Tel Aviv.

Avner Oil Exploration-LP (AVNRL IT) and Delek Drilling-LP (DEDRL IT): The oil and gas exploration companies said their group made an initial decision to carry out an exploratory drilling at the Alon A/364 license site. Avner fell 0.2 percent to 1.897 shekels. Delek Drilling advanced 0.4 percent to 10.62 shekels.

First International Bank of Israel Ltd. (FTIN IT): The country’s fifth-largest lender said second-quarter profit rose to 103 million shekels ($29 million) from 85 million shekels in the year-earlier period. First International Bank dropped 0.6 percent to 42.32 shekels.

Bank Hapoalim Ltd. (POLI IT): The country’s second-biggest bank by assets said second-quarter net income increased to 712 million shekels from 497 million shekels a year earlier. Bank Hapoalim declined 0.3 percent to 14.48 shekels.

Hot Telecommunication System Ltd. (HOT IT): The cable and telecommunications company reported second-quarter net income of 78 million shekels after a loss of 49 million shekels a year earlier. Hot dropped 1.1 percent to 47.50 shekels.

Bank Leumi Le-Israel Ltd. (LUMI IT): The country’s largest lender by assets said second-quarter net income from regular operations rose to 561 million shekels from 507 million shekels a year earlier. Bank Leumi declined 0.2 percent to 13.25 shekels.

Migdal Insurance & Financial Holding Ltd. (MGDL IT): The insurance holding company said second-quarter net income was 175 million shekels compared with 5 million shekels a year earlier. Migdal retreated 2.4 percent to 4.90 shekels.

To contact the reporter on this story: Sharon Wrobel in Tel Aviv at swrobel4@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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