Israel Stocks: Allot, Ceragon, Mellanox, Babylon, EZ Energy
Israel’s benchmark TA-25 index rose the most since July 1, advancing 2.1 percent to 1,079.46 at the 4:30 p.m. close in Tel Aviv. The gauge gained 1.2 percent this week. Investors traded about 2 billion shekels ($497 million) of shares and convertible securities, according to bourse data.
The following stocks rose or fell. Symbols are in parentheses.
Allot Communications Ltd. (ALLT) advanced 6.3 percent, the most since May 30, to 95.56 shekels, or the equivalent of $23.76. The U.S.-traded stock of the Israeli maker of high-speed networking equipment gained 4.2 percent to close at $23.49 in New York yesterday.
Babylon Ltd. (BBYL) advanced 6.2 percent, the most since June 19, to 36.88 shekels, bringing its rally this year to 305 percent. The Israeli maker of translation and dictionary computer software said it is considering listing shares on a U.S. Exchange.
BioCancell Therapeutics Inc. (BICL) rose 2 percent, the most since June 28, to 0.756 shekel. The biotechnology company submitted a draft prospectus to the Tel-Aviv Stock Exchange for a shares issue.
Ceragon Networks Ltd. (CRNT) gained 8.6 percent, the most since October 2009, to 33.5 shekels, or the equivalent of $8.33. The U.S.-traded shares of the maker of wireless networking systems jumped to $8.21 yesterday.
EZchip Semiconductor Ltd. (EZCH) , advanced the most in more than two months, gaining 5.7 percent to 137.1 shekels, or the equivalent of $34.09. The New York-traded shares gained 2.9 percent to $33.41 yesterday.
EZ Energy Ltd. (EZ) surged 21 percent, the biggest gain since September 2010, to 0.029 shekel, giving the Ramat Gan, Israel-based company a market value of 30.2 million shekels. The operator of gas stations entered an accord to sell the rights to stations and convenience stores for $64 million.
Mellanox Technologies Ltd. (MLNX) soared 47 percent, the most since the shares were listed in Israel in July 2007, to 373.8 shekels, or the equivalent of $92.93. The Israeli maker of technology used to transfer and store data provided a third- quarter sales forecast that surpassed estimates.
Pluristem Therapeutics, Inc. (PSTI) jumped 5.1, the most since May 15, to 10.38 shekels. The U.S. shares of the developer of stem-cell therapies rallied 9.8 percent to $2.69 in the U.S. after the company said it partnered with CPC Clinical Research on a peripheral artery disease Phase II study.
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