Bloomberg News

ISRAEL DAYBOOK: Security Cabinet to Review Ilan Grapel Release

October 25, 2011

(ILGD <GO> for Israel Finance Ministry)

(ECO IS <GO> Israel Economic releases)

(BOIJ <GO> for Israel Central Bank)

(MET <GO> and EXTRA <GO> for Middle East turmoil)

Oct. 25 (Bloomberg) -- Prime Minister Benjamin Netanyahu’s Security Cabinet will meet to review an agreement with Egypt to free Ilan Grapel in exchange for the release of 25 Egyptian prisoners from Israeli jails. Grapel, a dual U.S.-Israeli citizen, was arrested in June and accused of being a spy.

WHAT TO WATCH: * The Bank of Israel left its benchmark lending rate unchanged at 3 percent amid greater optimism about the global economy.

EQUITY MOVERS: * Modiin-LP (MDINL IT) and Zerah Oil & Gas Explorations LP (ZRAHL IT) filed an appeal of the National Infrastructures Ministry’s decision to reject changes to a work plan at the Zurim license. Modiin increased 7.4 percent to 0.361 shekel. Zerah climbed 2 percent to 0.052 shekel. * Teva Pharmaceutical Industries Ltd. (TEVA IT): The U.S. Food and Drug Administration approved a generic version of Eli Lilly & Co.’s schizophrenia treatment Zyprexa made by the world’s largest generic drugmaker. Teva fell 0.4 percent to 141.50 shekels.

MARKETS: * The TA-25 Index declined 0.2 percent to 1,140.95. * The yield on the Mimshal Shiklit government bond due January 2022 was at 4.69 percent. * The shekel weakened 0.2 percent to 3.6507 per dollar at 8:48 a.m. in Tel Aviv. * Corn for December delivery rose 0.2 percent $6.52 a bushel. * Crude oil for December delivery advanced 0.6 percent to $91.77 a barrel. * Gold for immediate delivery increased 0.2 percent to $1,655.88 an ounce.

--Editors: Susan Lerner, Claudia Maedler

To contact the reporter on this story: Sharon Wrobel in Tel Aviv at

To contact the editor responsible for this story: Claudia Maedler at

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