Israeli Stocks: Alon Holdings Blue Square, Gilat, Osem, Strauss

Israel’s TA-25 Index dropped for a second day, losing 0.5 percent to 1,122.62 at the 2:45 p.m. close in Tel Aviv. Local markets will be shut Oct. 19 and Oct. 20 for a holiday. The benchmark gained 3.5 percent in the shortened week. Investors traded about 929.6 million shekels ($255 million) of shares and convertible securities today, according to bourse data.

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

Alon Holdings Blue Square Israel Ltd. (BSI IT) increased 2 percent to 21.42 shekels, the highest level since Sept. 21. The U.S.-traded shares of the country’s second-largest supermarket chain jumped 6.1 percent to $5.74, or 20.96 shekels, yesterday after workers at its biggest competitor Shufersal Ltd. demanded talks on job security.

Gilat Satellite Networks Ltd. (GILT IT) surged the most since May 11, advancing 4.7 percent to 13.09 shekels. The provider of satellite-networking technology said it has shipped its one millionth very small aperture terminal.

Osem Investments Ltd. (OSEM IT) retreated the most since Oct. 2, sliding 4.4 percent to 50.18 shekels. Strauss Group Ltd. (STRS IT), which derives about a fifth of its revenue from dairy products, slumped 3.7 percent to 47.26 shekels.

“All the food companies have come out with special offers and this will be already reflected in the third-quarter financial statements,” Liat Glazer, an analyst at Excellence Nessuah Investment House Ltd. in Ramat Gan, Israel, said by phone.

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