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Israel Stocks: Avner, Delek Drilling, Granite, Partner, Hot

May 23 (Bloomberg) -- Israel’s TA-25 index dropped to the lowest level in almost six months, declining 1.9 percent to 1,045.22 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.2 billion shekels ($312 million) of shares and convertible securities, according to bourse data.

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

Delek Drilling-LP (DEDRL IT), a partner in the Tamar natural gas field, retreated to the lowest level in six months, falling 3.4 percent to 12.37 shekels. The regulator will examine contracts signed for domestic natural gas sales. Avner Oil Exploration LLP (AVNRL IT), another partner in the field, lost 3.3 percent to 2.2750 shekels. Isramco Negev 2 LP (ISRAL IT) decreased 3.5 percent to 0.494 shekel. Delek Group Ltd. (DLEKG IT), which has stakes in Delek and Avner, slid 4.5 percent.

Gilat Satellite Networks Ltd. (GILT IT) tumbled the most since 2008, declining 7.8 percent to 13.55 shekels. The developer of satellite-networking technology posted a first-quarter net loss of $3.1 million after a profit in the year-earlier period.

Granite Hacarmel Investments Ltd. (GRNT IT) jumped the most since March 21, adding 6.3 percent to 4.144 shekels. The marketer of petroleum and automobile products will acquire the remaining stake in Tambour Ltd.

Hot Telecommunication System Ltd. (HOT IT) slumped to the lowest in more than three years, falling 6.5 percent to 29.60 shekels. Israel’s second-largest fixed-line operator said profit for the first quarter declined 26 percent.

Partner Communications Co. (PTNR IT) tumbled to the lowest level since 2003, falling 4.8 percent to 18.10 shekels. First-quarter profit at Israel’s second-largest mobile-phone company dropped 43 percent to 146 million shekels as competition intensified.

To contact the reporter on this story: David Wainer in Tel Aviv at dwainer3@bloomberg.net

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

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