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Israeli Stocks: Israel Chemicals Declines and Ness Advances

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Sept. 6 (Bloomberg) -- Israel’s TA-25 Index dropped to the lowest level since November 2009, falling 2.8 percent to 1,032.74 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.85 billion shekels ($503 million) of shares and convertible securities today, according to Tel Aviv Stock Exchange data.

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

Israel Chemicals Ltd. (ICL IT) declined to the lowest level since July 2010, slumping 6.5 percent to 43 shekels. Finance Minister Yuval Steinitz may establish a panel to consider an “excess-profit tax” on its Dead Sea Works Ltd. unit following a recommendation from a Justice Ministry official this week.

Ness Technologies Ltd. (NSTC IT) gained the most since Aug. 2, rising 1.6 percent to 27.83 shekels. The computer-services provider signed a multi-million dollar contract with the Czech Republic’s Raiffeisenbank.

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