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Harel, Paz Oil, Gazit-Globe, Alony Hetz: Israeli Equity Preview

Sept. 5 (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 4.4 percent to 1,082.47 in Tel Aviv.

Alony Hetz Properties & Investment Ltd. (ALHE IT): The real-estate investment company said it expects to raise 313 million shekels ($87 million) from a bond sale. Alony Hetz declined 3 percent to 17.01 shekels.

Gazit-Globe Ltd. (GLOB IT): The real-estate investment company expects to raise net proceeds of 519.9 million shekels from a sale of bonds. Gazit-Globe fell 1.5 percent to 36.02 shekels.

Bank Hapoalim Ltd. (POLI IT): The country’s second-largest bank by assets is considering selling its stake in Turkey’s Bank Pozitif Ve Kalkinma Bankasi AS, the financial newspaper Calcalist reported, without saying where it got the information. Hapoalim dropped 5.1 percent to 13.90 shekels.

Harel Insurance Investments & Financial Services Ltd. (HARL IT): The country’s third-biggest insurance company by market value said units are in talks for the acquisition of a 49 percent stake of a portfolio of properties in the U.S. valued at $338.5 million. Harel fell 2.8 percent to 150.20 shekels.

Paz Oil Co. (PZOL IT): The maker of petroleum-based products said a final report on jet-fuel contamination that stopped air traffic in Israel in early May doesn’t contain information indicating the company was responsible for the problem and won’t affect its financial results. Paz retreated 3.5 percent to 461.20 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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