Bloomberg News

Israel Stocks: Africa Israel Investments, Ampal-American, Koor

October 17, 2011

Oct. 17 (Bloomberg) -- Israel’s TA-25 Index declined for the first time in four days, dropping 0.3 percent to 1,127.76 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 1.67 billion shekels ($462 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) gained for a second day, increasing 4 percent to 13 shekels, the highest level since Sept. 5, after the holding company said yesterday two units agreed to sell the Clock Tower Building in New York for $165 million. The shares soared 11 percent yesterday.

Ampal-American Israel Corp. (AMPL IT) surged 13 percent to 1.441 shekels, the biggest increase since March 13. The stock has slumped 82 percent this year, giving the New York City-based company a market value of 81 million shekels ($22 million).

Koor Industries Ltd. (KOR IT) rose 7 percent to 45.51 shekels, the highest since Aug. 4. The holding company said it would gain as much as 674 million shekels from the sale of Makhteshim-Again Industries Ltd. to China National Chemical Corp. Holding company Discount Investment Corp. (DISI IT) soared 8.8 percent to 39.20 after it said it would post a fourth- quarter gain of as much as 321 million shekels from the deal.

--Editors: Linda Shen, Alex Nicholson

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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