Bloomberg News

Israel Stocks: Alony Hetz, Elbit Systems, Neviot-Teva, Procognia

October 10, 2011

Oct. 10 (Bloomberg) -- Israel’s TA-25 Index surged the most in more than two years, soaring 4.1 percent to 1,077.79 at the 4:30 p.m. close in Tel Aviv, the biggest gain since April 2009. Global stocks rallied and the euro surged the most since July 2010 against the dollar after the leaders of France and Germany pledged to deliver a plan to stem the debt crisis in three weeks. Commodities gained for a fourth day.

Investors traded about 1.6 billion shekels ($435 million) of shares and convertible securities in Tel Aviv today, according to bourse data.

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

Alony Hetz Properties & Investments Ltd. (ALHE IT) posted the biggest increase in more than two years, soaring 8 percent to 17.67 shekels. The real-estate investment company said it will pay an extra dividend and set a dividend policy for 2012.

Collplant Holdings Ltd. (CLPT IT) gained the most since Oct. 2, climbing 3.4 percent to 0.667 shekel. The biotechnology company said a unit and Israeli health provider Maccabi Health Services received approval for the first clinical study on humans of a treatment for chronic diabetic wounds.

Elbit Systems Ltd. (ESLT IT) closed at its highest since July 28, jumping 5.7 percent to 160.50 shekels. Israel’s largest non-government defense contractor said its U.S. subsidiary won a five-year, $23 million-national-maintenance contract from the U.S. Army.

Separately, it said the unit has delivered its 1,000th Enhanced Vision System.

Neviot-Teva Hagalil Ltd. (NVIO IT) soared 65 percent, the most since at least February 1996 when Bloomberg started tracking the stock, to 12.95 shekels. Controlling shareholder Central Beverage Co. offered to buy the rest of the mineral- water bottler for 12.907 shekels a share. The company has a market value of 125 million shekels.

Procognia (Israel) Ltd. (PRCG IT) tumbled 18 percent to 0.093 shekel, the lowest since December 2008. The drug developer priced a share sale 25 percent below yesterday’s close. The company has a market value of 9.5 million shekels.

--Editors: Claudia Maedler, Susan Lerner

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


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus