Bloomberg News

Israel Stocks: Delek Real Estate, ICL, D. Medical, Perrigo

October 06, 2011

Oct. 6 (Bloomberg) -- Israel’s TA-25 Index gained for a second day, increasing 1.1 percent to 1,049.92 at the 4:30 p.m. close in Tel Aviv, paring the decline this week to 2.6 percent. Investors traded about 1.3 billion shekels ($350 million) of shares and convertible securities today, according to Tel Aviv Stock Exchange data.

The following stocks rose or fell today. Symbols are in parentheses.

D. Medical Industries Ltd. (DMED IT) jumped the most since Aug. 2, soaring 6.7 percent to 7.217 shekels. The maker of drug delivery devices said its Spring Health Solutions Inc. unit signed a distribution agreement for its insulin infusion sets in the U.S.

Delek Real Estate Ltd. (DLKR IT) rose to the highest level since Sept. 8, jumping 4.9 percent to 0.171 shekel. Bondholders of the property company agreed to delay a principal payment and accept a deal from controlling shareholder Isaac Tshuva.

Israel Chemicals Ltd. (ICL IT), which extracts minerals from the Dead Sea to make fertilizer and potash, climbed 1.7 percent, the most since Sept. 27, to 40.41 shekels. Corn prices climbed on speculation the U.S. crop may be smaller than forecast while demand for feed and ethanol may rise.

Perrigo Co. (PRGO IT) advanced for a second day, gaining 1.2 percent to 353.10 shekels. The maker of over-the-counter drugs received tentative approval from the U.S. Food and Drug Administration for its abbreviated new drug application for a generic of Steifel Laboratories’ Olux-E Foam topical corticosteroid.

Separately, Clal Finance Brokerage Ltd. increased its share-price estimate to $100, the equivalent of 372 shekels, from $83.

--Editors: Susan Lerner, Peter Branton

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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