Israeli Stocks: Bezeq, Cellcom, Ceragon, Hot Telecommunication

Israel’s TA-25 Index slipped less than 0.1 percent to 1,111.97 at the 5 p.m. close in Tel Aviv. The gauge has lost 1.9 percent this month, after a 5.2 percent gain in October, the biggest monthly increase this year. Israeli markets opened and closed late due to a general strike.

Investors traded about 987 million shekels ($268 million) of shares and convertible securities, according to bourse data.

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

Bezeq Israeli Telecommunication Corp. (BEZQ IT) declined for the first time in four days, retreating 1.8 percent to 7.48 shekels. Harel Finance Ltd. lowered its share-price estimate for the country’s largest communications company to 8.2 shekels from 9.2 shekels. Meitav Investment House Ltd. initiated coverage of Bezeq with a “market perform” recommendation and a 7.5 shekel price estimate.

Ceragon Networks Ltd. (CRNT IT) tumbled the most since at least September 2004, plunging 15 percent to 32 shekels. The maker of wireless-networking systems reported a third-quarter loss of $6.7 million, or 19 cents a share, after a profit of $4.6 million, or 13 cents a share a year earlier.

Hot Telecommunication System Ltd. (HOT IT) rose for the first time in four days, advancing 0.4 percent to 47.20 shekels. Meitav started the country’s second-biggest fixed-line operator with an “outperform” recommendation. Cellcom Israel Ltd. (CEL IT) and Partner Communications Co. (PTNR IT) were initiated with “market perform” ratings. Cellcom dropped 1.1 percent to 79.40 shekels. Partner fell 2 percent to 41.31 shekels.

Micronet Ltd. (MCRNL IT) surged 20 percent to 1.557 shekels, the highest since Aug. 21. The manufacturer of mobile-data collection products said it won a follow-on order from a U.S. customer.

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