Israel’s benchmark TA-25 index dropped to the lowest level in two weeks, falling 0.8 percent to 1,057.63 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.6 billion shekels ($406 million) of shares and convertible securities, according to bourse data. The gauge is down 1.5 percent this week and 6 percent this quarter.
The following stocks rose or fell. Symbols are in parentheses.
Africa-Israel Investments Ltd. (AFIL IT) dropped 6.2 percent, the most since Nov. 9, to 11.12 shekels. The holding company with interests in real estate said Chief Executive Officer Izzy Cohen will resign and proposed that Avraham Novogrocki, the CEO of Africa Israel Industries Ltd. replace him. Africa Israel Industries (AFID IT) retreated 2.9 percent to 239.10 shekels, the lowest level since Jan. 5.
EZchip Semiconductor Ltd. (EZCH IT) advanced 1.9 percent to 156 shekels, or the equivalent of $39.60, the highest level since May 15. The U.S.-traded shares of the Yokneam, Israel-based developer of network processors rose to $39.20 yesterday.
Flowsense Medical Ltd. (FLSN IT) advanced 2.8 percent to 0.073 shekel, the highest level since June 18, bringing its market value to 14 million shekels. The maker of an automated urine monitor system said a major hospital in Belgium will use its products in emergency and operating rooms.
Koor Industries Ltd. (KOR IT) declined 4.7 percent to 31.80 shekels, the lowest since Sept. 13. Shares of Credit Suisse Group AG, in which Koor owns a stake, headed for the lowest level in almost 20 years at 3:32 p.m. in Switzerland. IDB Holding Corp. (IDBH IT), which owns a stake in Koor through Discount Investment Corp., dropped 7 percent to 12.70 shekels, the weakest level since June 14.
Queenco Ltd. (QNCO IT) dropped to the lowest on record, tumbling 17 percent to 0.608 shekel. The investor in real estate projects said talks for an investment into the company or into its unit Queenco Leisure International Ltd. ended without a deal.