March 6 (Bloomberg) -- Prime Minister Benjamin Netanyahu takes his campaign for stopping Iran’s nuclear program to Congress today after telling President Barack Obama his country must be free to decide whether to take military action.
WHAT TO WATCH: * Greece, Cyprus and Israel plan to sign an energy cooperation agreement later this month that may lead to their power grids being connected, Greek Environment, Energy and Climate Change Minister George Papaconstantinou said.
EQUITY MOVERS: * Ampal-American Israel Corp. (AMPL IT), which owns a stake in a company that exports natural gas from Egypt to Israel, said it may delay the interest payment on its Series C bonds due March 7 if Series B bondholders decide to accelerate their debt payments. Separately Ampal-American said a pipeline carrying natural gas from Egypt to Israel was hit by an explosion and disrupted supply. * Perion Network Ltd. (PERI IT), a digital media company, is scheduled to release fourth-quarter results. * Teva Pharmaceutical Industries Ltd. (TEVA IT), the world’s largest generic drugmaker, said data from four Phase 3 studies show QNASL, its experimental allergy drug, has a positive safety profile and it expects the U.S. Food & Drug Administration feedback on the approval status of the drug “in the near future.” * Elbit Systems Ltd.’s (ESLT IT) unit signed an agreement to provide Boeing Co. with a Large Area Display system that will be part of an advanced cockpit system provided in fighter aircraft, Boeing said yesterday after markets closed.
MARKETS: * The TA-25 Index declined 0.6 percent to 1,092.42 yesterday. * The yield on the Mimshal Shiklit government bonds due January 2022 fell one basis point to 4.69 percent. * The shekel declined 0.1 percent to 3.7937 a dollar at 8:20 a.m. in Tel Aviv. * Corn for May delivery declined 0.4 percent to $6.5825 a bushel. * Crude oil for April delivery was little changed at $106.71 a barrel. * Gold for immediate delivery retreated 0.3 percent to $1,700.82 an ounce.
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