Israel Stocks: Clal Industries, Mellanox, Nice Systems, Orckit
Israel’s TA-25 index retreated for the third time this week, declining 0.8 percent to 1,105.21 at the 4:30 p.m. close in Tel Aviv. The measure has lost 1.1 percent this week. Investors traded about 842 million shekels ($223 million) of shares and convertible securities, according to bourse data.
The following stocks rose or fell today. Symbols are in parentheses.
Clal Industries & Investments Ltd. (CII IT) declined 2.2 percent to 16.36 shekels, the lowest close since Dec. 7. The investment company said Israel’s Antitrust Authority may require its cement unit to publish product prices.
Hot Telecommunication System Ltd. (HOT) climbed 3.7 percent, the most since Jan. 30, to 43.42 shekels after it started offering Internet services at lower prices than I.B.I.- Israel Brokerage & Investments Ltd. expected.
Mellanox Technologies Ltd. (MLNX) advanced 2.1 percent to 143.80 shekels, or the equivalent of $38.14, to the highest level since the shares started trading in Tel Aviv in July 2007. The U.S.-traded shares closed at $38.11 yesterday.
Nice Systems Ltd. (NICE) fell 2.1 percent, the biggest decline in more than a week, to 134.90 shekels, or $35.78. The U.S.-traded shares of the maker of analytical communications software declined to $36.04 yesterday. The company was cut to “neutral” from “buy” at I.B.I.-Israel Brokerage and Investments Ltd. today.
Orckit Communications Ltd. (ORCT) plunged 27 percent, the biggest drop since November 2002, to 2.06 shekels after it reached an agreement with Series A bondholders that includes deferring early redemption rights and lowering the conversion price. It had fallen as much as 41 percent earlier.
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