Bloomberg News

Israeli Stocks: Teva, Partner, Cellcom Israel, Satcom, BioLineRx

January 29, 2012

Jan. 29 (Bloomberg) -- Israel’s TA-25 Index declined 0.8 percent, the most since Jan. 24, to 1,120.80 at the 4:30 p.m. close in Tel Aviv. Investors traded about 519 million shekels ($139 million) of shares and convertible securities, according to bourse data.

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

BioLineRx Ltd. (BLRX IT) tumbled 7.4 percent to 1.506 shekels, or the equivalent of 40 cents, the lowest level Jan. 23. The biopharmaceutical company’s American depositary receipts, each representing 10 shares, declined 1 percent to $3.96 in New York on Jan. 27.

Cellcom Israel Ltd. (CEL IT) retreated to the lowest on record, sliding 4.6 percent to 53.90 shekels, or the equivalent of $14.39. The New York-traded shares of Israel’s largest mobile-phone company closed at $14.62 on Jan. 27. Concern that competition will increase pushed the shares lower, said Sabina Podval, an analyst at Leader & Co. Investment House Ltd. Partner Communications Co. (PTNR IT), the second-biggest mobile provider, dropped 4 percent to 29.38 shekels, or the equivalent of $7.84, the lowest since October 2004. The U.S.-traded shares fell 1.9 percent to $7.61.

Delek Real Estate Ltd. (DLKR IT) dropped 3.7 percent, the most since Jan. 24, to 0.264 shekel. The holders of the property company’s Series 25 notes said a meeting on Jan. 26 was inconclusive.

Satcom Systems Ltd. (STCM IT) soared the most on record, advancing 61 percent to 2.899 shekels. Eurocom Communications Ltd. increased its offer to purchase the remaining shares of the communications services provider to 3 shekels a share from 1.8 shekels.

Teva Pharmaceutical Industries Ltd. (TEVA IT) declined the most in a month, retreating 2.7 percent to 168 shekels, or the equivalent of $44.84. The U.S.-traded shares of the world’s largest maker of generic pharmaceuticals closed at $44.91 on Jan. 27. A competitor received clearance to sell a generic version of Lovenox and a unit recalled a drug.

--Editor: Shanthy Nambiar

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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