Bloomberg News

Israel Stocks: Israel Chemicals, Scailex and Israel Corp.

December 20, 2011

Dec. 19 (Bloomberg) -- Israel’s TA-25 Index increased to the highest level since Dec. 5, gaining 1.2 percent to 1,099.18 at 4:30 p.m. close in Tel Aviv. The measure has declined 17 percent this year. Investors traded about 971 million shekels ($256 million) of shares and convertible securities, according to bourse data.

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

Israel Chemicals Ltd. (ICL IT) rose the most since Dec. 15, gaining 2.4 percent to 36.70 shekels. Israel’s Finance Ministry said that Potash Corp. of Saskatchewan Inc. is seeking to raise its stake in the company that extracts minerals from the Dead Sea. Parent company Israel Corp. (ILCO IT) rose 2.8 percent to 2,300 shekels, the highest level since Dec. 7. Separately Israel Corp. said a unit won a $700 million tender to supply electricity in Peru for 10 years.

Scailex Corp. (SCIX IT) declined 3.9 percent to 16 shekels, its lowest close since October 2003. The importer of mobile handsets said it’s in talks to sell a 50 percent stake in its cellular operations for 300 million shekels.

--Editors: Claudia Maedler, Tim Farrand

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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