Bloomberg News

Israel Stocks: Azorim-Investment, BioLineRx, Israel Chemicals

February 22, 2012

Feb. 21 (Bloomberg) -- Israel’s TA-25 index advanced for a third day, gaining 0.3 percent to 1,120.19 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.1 billion shekels ($294 million) of shares and convertible securities, according to bourse data.

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

Azorim-Investment Development & Construction Co. (AZRM IT) soared 24 percent, the biggest gain in three years, to 3.90 shekels. The Tel Aviv-based company paid out a rights offer that was funded in part by the controlling shareholder.

BioLineRx Ltd. (BLRX IT) climbed 3.6 percent to 1.367 shekels, the highest close since Feb. 15. The biopharmaceutical company said pre-clinical test results show BL-7010, an orally available treatment for celiac disease, reduces the negative effect of gluten on the patient’s body.

Camtek Ltd. (CAMT IT) tumbled 3.2 percent, the most since Feb. 20, to 9.492 shekels, giving the company a market value of 271 million shekels. The maker of optical-inspection systems reported a fourth-quarter loss.

Israel Chemicals Ltd. (ICL IT), the harvester of chemicals from the Dead Sea to make fertilizer and potash, advanced 4 percent to 42.41 shekels, the highest level since Nov. 13. “The stock is undervalued and has underperformed compared to peers,” said Guil Bashan, an analyst at I.B.I.-Israel Brokerage & Investments Ltd. in Tel Aviv.

--With assistance from Claudia Maedler in Dubai. Editors: Claudia Maedler, Daliah Merzaban

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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