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Israel Stocks: Cellcom, Partner, Perrigo, and Israel Chemicals

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May 13 (Bloomberg) -- Israel’s TA-25 index declined the most since May 9, retreating 0.6 percent to 1,127.91 at the 4:30 p.m. close in Tel Aviv. Investors traded about 606 million shekels ($159 million) of shares and convertible securities, according to bourse data.

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

Cellcom Israel Ltd. (CEL IT), Israel’s leading mobile phone provider, declined 2.7 percent to 43.07 shekels, the lowest level since April 16. TheMarker reported that Golan Telecom Ltd. will start providing wireless services tomorrow. Partner Communications Co., the country’s second-largest mobile phone provider, dropped 1.5 percent to 26.60 shekels, also the lowest level since April April 16.

Delek Real Estate Ltd. (DLKR IT) jumped the most since November, surging 21 percent to 0.19 shekel. The property company controlled by Isaac Tshuva petitioned the court to halt a liquidation process and reconvene bondholders for talks on a debt settlement.

Israel Chemicals Ltd. (ICL IT), which extracts minerals from the Dead Sea to make fertilizers and potash, dropped 1 percent to 40.45 shekels, the lowest level since March 15. The price of corn retreated last week on a forecast of an increase in U.S. stockpiles.

Israel Land Development Co. Energy Ltd. (IE IT) advanced 5.1 percent to 0.869 shekel, the highest level since Jan. 17. The natural gas explorer said a unit submitted a proposal in a Cyprus government tender for exploration and production rights of oil and gas at an offshore site.

Perrigo Co. (PRGO IT) advanced 2.2 percent to 391.40 shekels, the highest level since May 7. The U.S. shares of the largest U.S. maker of generic over-the-counter drugs closed at $101.61 on May 11.

Prolor Biotech Inc. (PBTH IT) slipped 3.9 percent, the most since April 8, to 20.68 shekels, or the equivalent of $5.42. The developer of therapeutic proteins priced an offering of 6.5 million shares at $5 each. The U.S.-traded shares declined 7.9 percent to $5.24 on May 11 when the company announced the pricing.

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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