Bloomberg News

ISRAEL DAYBOOK: Air Force Strikes Three Targets in Gaza Strip

October 27, 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. 27 (Bloomberg) -- The air force struck three targets in the Gaza Strip after a rocket launched from the Hamas- controlled territory hit an open area near the city of Ashdod.

WHAT TO WATCH: * Options on the TA-25 index expire at the open. * Egypt is expected to turn over Ilan Grapel, a U.S.-Israeli citizen it accuses of spying, to Israel in exchange for 25 Egyptian prisoners.

EQUITY MOVERS: * Fundtech Ltd. (FNDT IT): The provider of banking software, set the interest rate on a $200 million term loan it’s seeking to finance its buyout by GTCR LLC at six percentage points more than the London interbank offered rate, according to a person with knowledge of the transaction. Fundtech fell 0.2 percent to 83.76 shekels. * Potash Corp. of Saskatchewan Inc., the world’s largest crop nutrient producer by market value, is scheduled to report third- quarter results. Israel Chemicals Ltd. (ICL IT), the company that extracts minerals from the Dead Sea to make fertilizer, advanced 0.9 percent to 45.10 shekels. * Mellanox Technologies Ltd. (MLNX IT): The adapter maker that is part-owned by Oracle Corp. reported third-quarter adjusted earnings of 31 cents per share, exceeding the 29-cent average estimate of eight analysts on Bloomberg. Mellanox declined 1.1 percent to 120.90 shekels. * Perrigo Ltd. (PRGO IT): The maker of over-the-counter drugs declared a dividend of 8 cents a share, above the 7 cents it had been paying. The company is scheduled to release fiscal first-quarter results. Perrigo retreated 2.4 percent to 359.90 shekels. * RadVision Ltd. (RVSN IT): The maker of video-conferencing systems is scheduled to report third-quarter results. The company on Oct. 5 said it expects to report an adjusted loss of 30 cents to 40 cents a share. RadVision fell 1 percent to 20.15 shekels. * Teva Pharmaceutical Industries Ltd. (TEVA IT) shares increased 3 percent to $40.28, the equivalent of 146.15 shekels in New York yesterday as the cheapest valuation among global peers outweighed a study that showed a competitor’s drug as more effective. Teva dropped 1.1 percent to 143.50 shekels in Tel Aviv yesterday

MARKETS: * The TA-25 Index gained 0.5 percent to 1,140.48. * The yield on the Mimshal Shiklit government bond due January 2022 was at 4.63 percent. * The shekel strengthened 0.5 percent to 3.6290 per dollar at 8:54 a.m. in Tel Aviv. * Corn for December delivery rose 1.4 percent $6.46 a bushel. * Crude oil for December delivery gained 2.3 percent to $92.28 a barrel. * Gold for immediate delivery slipped 0.2 percent to $1,721.05 an ounce.

--Editors: Susan Lerner, James Kraus

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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