Bloomberg News

Israel Stocks: Givot, Scailex, Electra, Hot, Rami Levi

January 31, 2012

Jan. 30 (Bloomberg) -- Israel’s TA-25 Index declined 0.7 percent to 1,113.28, the lowest level since Jan. 15, at the 4:30 p.m. close in Tel Aviv. Investors traded about 805 million shekels ($214 million) of shares and convertible securities today, according to Tel Aviv Stock Exchange data.

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

Electra Ltd. (ELTR IT) increased 1.2 percent to 309.40 shekels, the highest since Dec. 14. The manufacturer of air- conditioning systems said a unit signed an agreement to buy a 25 percent stake in a contender for a government contract in the Negev. The Negev is Israel’s southern desert region.

Givot Olam Oil Exploration LP (GIVOL IT) advanced 1.9 percent to 0.055 shekel, the highest level since Dec. 20. The Ministry of Energy & Water Resources approved the oil and gas explorer’s development plan for the Meged field.

Hot Telecommunication System Ltd. (HOT IT), the best performing member on the country’s benchmark index today, jumped 7.4 percent to 46.42 shekels. Bizportal reported that French entrepreneur Patrick Drahi is considering buying the remaining shares in Israel’s second-biggest fixed-line operator. Motti Scherf, a spokesman for Drahi in Israel, said the company does not comment on rumors.

Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. (RMLI IT) added 1.8 percent to 133.50 shekels, the highest since April 28. Bank of Jerusalem Ltd. (JBNK IT) rose 1.2 percent to 5.328 shekels, the highest since June 6. The financial daily Globes reported that the Bank of Jerusalem may offer banking services at Rami Levi supermarkets.

Scailex Corp. (SCIX IT) gained 1.1 percent to 16.34 shekels, the highest since Jan. 24. The importer and distributor of mobile handsets said Chairman Ilan Ben-Dov bought 12,700 shares in the company, lifting his ownership to 3.63 percent.

--Editors: Claudia Maedler, Susan Lerner

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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