Israeli IPO’s World-Beating 73% Surge Leads August Rally

Mobileye NV, the technology company that went public a month ago, led gains among U.S.-listed Israeli stocks in August as investors shrugged off concern that the seven-week Gaza conflict will weaken the economy.

Mobileye has surged 73 percent to $43.22 since listing in New York on July 31, the biggest rally among all companies globally that raised $500 million or more in the past three months. Caesarstone Sdot-Yam Ltd., the maker of quartz counter-tops, climbed 20 percent in August, the second-best performance on the Bloomberg Israel-U.S. Equity Index, which rose 4.8 percent.