Delek, Hapoalim, IDB Holding, Queenco: Israel Equity Preview
The following stocks may rise or fall in the Israeli market. Stock symbols are in parentheses after company names and prices are from the last close unless otherwise stated.
The TA-25 Index gained 0.6 percent to 1,335.03 in Tel Aviv.
Bank Hapoalim Ltd. (POLI IT): Israel’s second-largest bank by market value was fined 7.5 million shekels ($2.1 million) by the Bank of Israel for violations of the money-laudering law. Hapoalim rose 1.2 percent to 18.88 shekels.
Delek Drilling LP. (DEDRL IT): An Israeli committee appointed by Finance Minister Yuval Steinitz recommended increasing taxes and royalties on oil and natural-gas profits by a lower amount than it had previously proposed. Leviathan natural gas field partners Delek Drilling gained 1.1 percent to 13.30 shekels, Avner Oil Exploration-LP (AVNRL IT) added 1.9 percent to 2.365 shekels and Tamar project partner Isramco Negev 2 LP (ISRAL IT) increased 1.4 percent to 0.436 shekel.
IDB Holding Corp. (IDBH IT): The holding company’s rating outlook was lowered to “negative” from “stable” at Standard & Poor’s Maalot. Discount Investment Corp. (DISI IT), Clal Industries and Investments Ltd. (CII IT) and Koor Industries Ltd. (KOR IT) were also lowered. IDB Holding dropped 1 percent to 132.60 shekels. Discount Investment lost 0.3 percent to 78.90 shekels, Clal Industries fell 0.4 percent to 29.27 shekels and Koor Industries gained 2.2 percent to 88.90 shekels.
Queenco Ltd. (QNCO IT): The investor in real estate and tourism said two minority shareholders have asked to call a general shareholders meeting to appoint an investigator to gather information on transactions between units of the company and Yigal Zilkha. The shares declined 0.4 percent to 4.006 shekels.
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