Bloomberg News

Israel Stocks: Israel Chemicals, Gazit-Globe, RadVision

December 15, 2011

Dec. 14 (Bloomberg) -- Israel’s TA-25 Index dropped for a second time this week, retreating 0.2 percent to 1,074.70 at the 4:30 p.m. close in Tel Aviv. The measure has lost 19 percent this year. Investors traded about 1.2 billion shekels ($509 million) of shares and convertible securities, according to bourse data.

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

Gazit-Globe Ltd. (GLOB IT) declined to its lowest since Sept. 22, retreating 2 percent to 35.20 shekels, or the equivalent of $9.24. The Tel Aviv-based real-estate investor with properties from San Francisco to Sao Paulo, raised less than planned in the first Israeli share sale on the New York Stock Exchange in four years, selling $81 million of stock. The company initially planned to raise as much as $111 million.

Israel Chemicals Ltd. (ICL IT), which extracts minerals from the Dead Sea to make fertilizer and potash, rose the most since Oct. 16, advancing 4 percent to 35.60 shekels. The Finance Ministry said talks with the company on royalties and salt harvesting will conclude soon.

RadVision Ltd. (RVSN IT) jumped 18 percent to 37.01 shekels, the highest level since April 3. Avaya Inc. is in talks to buy the Israeli maker of video-conferencing systems for a premium, Globes and TheMarker reported, without saying where they got the information.

--Editors: Peter Branton, Linda Shen

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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