Bloomberg News

Israeli Stocks: EZChip, Israel Chemicals and Teva Pharmaceutical

December 29, 2011

Dec. 29 (Bloomberg) -- Israel’s TA-25 Index declined the most in more than five weeks, dropping 2.5 percent to 1,085.59 at the 4:30 p.m. close in Tel Aviv. The measure lost 18 percent this year. Investors traded about 2.72 billion shekels ($713 million) of shares and convertible securities according to bourse data.

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

EZChip Semiconductor Ltd. (EZCH IT), a maker of network processors, retreated 2.3 percent to 108.60 shekels, or the equivalent of $28.49, after declining 4.3 percent to $28.42 in New York trading yesterday.

Israel Chemicals Ltd. (ICL IT) lost 3.3 percent, the biggest drop since Dec. 8, to 39.50 shekels. Mosaic Co., a competitor of the company that extracts minerals from the Dead Sea to make fertilizer, plans to cut phosphate production in the first quarter of 2012. Israel Corp. (ILCO IT), ICL’s parent company, fell 3.5 percent, the most in three weeks, to 2,380 shekels.

Teva Pharmaceutical Industries Ltd. (TEVA IT), the world’s largest maker of generic drugs, tumbled the most since Oct. 4, retreating 3 percent to 153.40 shekels, or the equivalent of $40.24, after dropping 2.1 percent in New York to $40.79.

--Editors: Susan Lerner, Daliah Merzaban

To contact the reporter on this story: Gwen Ackerman in Jerusalem at gackerman@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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