Israel’s TA-25 Index advanced to the highest level since Jan. 26, gaining 0.7 percent to 1,128.81 at the 4:30 p.m. close in Tel Aviv. Investors traded about 772 million shekels ($208 million) of shares and convertible securities today, according to Tel Aviv Stock Exchange data.
The following stocks rose or fell. Symbols are in parentheses.
Avner Oil Exploration LLP (AVNRL IT) and Delek Drilling-LP (DEDRL IT) advanced the most since Jan. 17, climbing 1.5 percent to 2.63 shekels and 15.14 shekels, respectively. The oil and natural gas companies said there are “significant signs” of natural gas at the Tanin 1 site.
Compugen Ltd. (CGEN IT) surged to the highest level in six years, climbing 15 percent to 21.89 shekels, or the equivalent of $5.90. The U.S. shares of the the developer of computational genomic products jumped 7.7 percent last week, to close at $5.89 on Feb. 3, on speculation the use of one of its products in cancer treatment research will boost revenue.
Israel Chemicals Ltd. (ICL IT), the harvester of chemicals from the Dead Sea, rose the most since Dec. 25, jumping 3.7 percent to 40.54 shekels. “It is possible that investors have started to pay attention to the relative underperformance of ICL versus international peers, notably Potash Corp.,” said Zach Herzog, equity-sales trader at the Tel Aviv-based Psagot Investment House Ltd. Israel Corp. (ILCO IT), which owns 52 percent of Israel Chemicals, advanced 1.5 percent to 2,396 shekels, the highest since Jan. 4.
Satcom Systems Ltd. (STCM IT) tumbled 18 percent, the biggest decline since March 2008, to 2.388 shekels. The communications services provider said Eurocom Communications Ltd.’s offer to acquire the shares it doesn’t already own was rejected.