Bloomberg News

Israeli Stocks: Teva, Alvarion, BioLineRX, Mellanox, RadVision

December 14, 2011

Dec. 13 (Bloomberg) -- Israel’s TA-25 Index increased for a second day this week, gaining 1.3 percent to 1,077.15 at the 4:30 p.m. close in Tel Aviv. The measure has lost 19 percent this year. Investors traded about 1 billion shekels ($265 million) of shares and convertible securities, according to bourse data.

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

Alvarion Ltd. (ALVR IT) surged to the highest level since Oct. 31, rising 8.2 percent to 3.993 shekels, or the equivalent of $1.06. The telecommunication-equipment maker followed a 6.2 percent gain in its U.S.-traded shares yesterday to $1.03.

BioLineRx Ltd. (BLRX IT) rose the most since Dec. 6, advancing 1.9 percent to 1.225 shekels. The biopharmaceutical development company said it would commercialize selected drug candidates of Compugen Ltd. (CGEN IT), a developer of computational genomic products. Compugen rose 3.2 percent to 17.30 shekels, the highest close since April 5.

Mellanox Technologies Ltd. (MLNX IT) dropped the most since Nov 20, retreating 2.7 percent to 125.50 shekels, or the equivalent of $33.24. The adapter maker part-owned by Oracle Corp. followed a drop in its U.S.-traded shares that declined the most in a month to $33.42.

RadVision Ltd. (RVSN IT) rose 15 percent to 31.49 shekels, or the equivalent of $8.34, the highest level since June 2. The maker of video-conferencing systems followed a 16 percent surge in the U.S.-traded shares yesterday to $8.42.

Teva Pharmaceutical Industries Ltd. (TEVA IT), whose bestseller is a multiple sclerosis drug, gained 2.3 percent to 154.50 shekels, the highest level since Nov. 8. A patient taking Novartis AG’s alternative multiple sclerosis drug Gilenya died on Nov. 23 and a role for Gilenya in the death can’t be excluded or confirmed, Novartis spokesman Eric Althoff said yesterday in a statement.

--Editors: Shanthy Nambiar, Claudia Maedler

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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