Bloomberg News

Israel Stocks: Delek Real Estate, Delta-Galil, Medigus, Teva

October 11, 2011

Oct. 11 (Bloomberg) -- Israel’s TA-25 Index climbed 0.6 percent to 1,084.73 at the 4:30 p.m. close in Tel Aviv, the highest level since Sept. 21. The measure gained 3.3 percent in a shortened trading week. Israeli markets will be closed until Oct. 16 for a holiday.

Investors traded about 1.64 billion shekels ($446 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.

Delek Real Estate Ltd. (DLKR IT) soared to the highest since Sept. 1, surging 15 percent to 0.217 shekel. The property company said that over the past few weeks a number of parties have indicated an interest to invest in the company. Calcalist reported earlier that a Citigroup Inc. real-estate fund was interested in taking a stake.

Delta-Galil Industries Ltd. (DELT IT) jumped the most since January 2010, increasing 8.1 percent to 21.62 shekels. The lingerie maker is in talks to buy the denim operations of Jones Group Inc. for $350 million to $400 million.

Medigus Ltd. (MDGS IT) rose to the highest since March 15, gaining 2.9 percent to 1.088 shekels. The maker of endoscopic procedures said it developed a disposable nasogastric feeding tube with a camera.

Prolor Biotech Inc. (PBTH IT) gained the most since Sept. 25, rising 3.6 percent to 15.06 shekels. The biopharmaceutical company received a U.S. patent for its CTP-modified interferons.

Teva Pharmaceutical Industries Ltd. (TEVA IT) climbed to the highest in more than a week, adding 1.6 percent to 140.20 shekels. The Federal Trade Commission approved the world’s largest generic drugmaker’s planned purchase of Cephalon Inc.

The European Commission is expected to approve the acquisition, Reuters reported yesterday, citing an unnamed person. Denise Bradley, a U.S-based spokeswoman for Teva, said the company hadn’t received the approval yet.

--Editors: Susan Lerner, Colin Keatinge

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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