Bloomberg News

Israel Stocks: Allot, Bank Leumi, Shufersal, Discount Investment

October 16, 2011

Oct. 16 (Bloomberg) -- Israel’s TA-25 Index climbed the most since April 2009, gaining 4.3 percent to 1,131.34 at the 2:45 p.m. close in Tel Aviv. Local markets will shut early through Oct. 18 and will be closed Oct. 19 and Oct. 20 for holidays. Investors traded about 1.35 billion shekels ($369 million) of shares and convertible securities, according to bourse data.

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

Africa-Israel Investments Ltd. (AFIL IT) jumped to the highest level since Sept. 5, soaring 11 percent to 12.50 shekels. The holding company said two units agreed to sell the Clock Tower Building in New York for $165 million.

Allot Communications Ltd. (ALLT IT) climbed 13 percent to 46.92 shekels, or the equivalent of $12.83, the biggest gain since December 2010 when the stock listed in Tel Aviv. The U.S.- traded shares closed at $12.93 on Oct. 14 bringing the weekly gain for Israel’s biggest maker of high-speed networking equipment to 22 percent.

D.N.A. Biomedical Solutions Ltd. (DNA IT) soared the most in almost a year, climbing 16 percent to 0.193 shekel. The U.S. Food and Drug Administration approved the MiniOmni device.

Bank Leumi Le-Israel Ltd. (LUMI IT), the country’s largest lender by assets, increased the most since April 2009, gaining 7.3 percent to 12.38 shekels. Israeli banks gained as Europe’s sovereign debt strategy received global backing. Bank Hapoalim Ltd. (POLI IT), the country’s second-biggest bank, jumped 5 percent to 13.49 shekels.

Shufersal Ltd. (SAE IT) rose to the highest since Aug. 16, jumping 4.2 percent to 17.10 shekels. Discount Investment Corp. (DISI IT) agreed to sell its 46 percent stake in Israel’s largest supermarket chain for 2.42 billion shekels ($662 million), or 24.18 shekels a share. Discount surged 9.8 percent to 36.02 shekels, the highest since Aug. 4. IDB Holding Corp. (IDBH IT), which owns 73.51 percent of Discount, advanced 8.6 percent to 57.84 shekels.

--Editors: Susan Lerner, Digby Lidstone

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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