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Israel Stocks: Modiin, Delek Real Estate, Shemen Oil & Gas

March 13 (Bloomberg) -- Israel’s TA-25 index advanced for a second day this week, gaining 0.7 percent to 1,080.90 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.1 billion shekels ($292 million) of shares and convertible securities, according to bourse data.

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

Delek Real Estate Ltd. (DLKR IT) declined 3.2 percent to 0.183 shekel, the lowest level since Oct. 9. The property company said series Kaf-Heh bondholders are demanding the immediate repayment of about 592 million shekels.

Mazor Robotics Ltd. (MZOR IT) rose to the highest level since Feb. 26, gaining 2 percent to 4.058 shekels. The developer of surgical robots said Florida Hospital bought its Renaissance system for spine procedures.

Modiin-LP (MDINL IT) jumped 16.2 percent, the most since Oct. 3, to 0.365 shekel. A report said the oil and gas explorer’s Gabriella site has a “reasonable chance of being commercial.” Shemen Oil & Gas Resources Ltd. (SMOG IT), the oil and gas explorer which has a licence south of Modiin’s Gabriella site, advanced 9.1 percent to 0.168 shekel, the biggest surge on record. “Investors believe that if there is oil potential at the Gabriella site it raises the chances of finding oil at the Shemen site,” said Yaron Zer, an analyst at Clal Finance Brokerage Ltd.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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