Bloomberg News

Israel Stocks: Modiin, Delek Real Estate, Shemen Oil & Gas

March 13, 2012

Israel’s TA-25 index advanced for a second day this week, gaining 0.6 percent to 1,079.06 at 1:16 p.m. in Tel Aviv.

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

Delek Real Estate Ltd. (DLKR) declined 3.2 percent to 0.183 shekel, the lowest level since Oct. 10. The property company said series Kaf-Heh bondholders are demanding the immediate repayment of about 592 million shekels ($157 million).

Mazor Robotics Ltd. (MZOR) rose to the highest level since Feb. 27, gaining 2.8 percent to 4.09 shekels. The developer of surgical robots said Florida Hospital bought its Renaissance system for spine procedures.

Modiin-LP (MDINL) jumped 8.3 percent, the biggest intraday gain since Oct. 25, to 0.34 shekel. The oil and gas explorer said a report said the resources discovered at the Gabrielle site have a “reasonable chance” of being commercial. Shemen Oil & Gas Resources Ltd. (SMOG) (SMOG IT), the oil and gas explorer which has a licence south of Modiin’s Gabriella site, advanced 6.5 percent to 0.164 shekel, headed for the biggest surge on record. “Investors believe that if there is oil potential at the Gabriella site it raises the chances of finding oil at the Shemen site,” said Yaron Zer, an analyst at Clal Finance Brokerage Ltd.

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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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