Bloomberg News

Israel Stocks: Avner, Delek Drilling, Bezeq, Leumi, Hapoalim

March 15, 2012

Israel’s TA-25 index declined for a second day this week, falling 0.1 percent to 1,110.25 at 4:29 p.m. in Tel Aviv. The index rose 2.3 percent this week.

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

Avner Oil Exploration LLP (AVNRL) and Delek Drilling LP (DEDRL) increased the most since March 14 in intraday trade, advancing 3.4 percent to 2.495 shekels and 4.1 percent to 13.80 shekels, respectively. The gas exploration companies, partners in the Tamar natural gas site, signed a 15-year agreement to supply the fuel to Israel Electric Corp.

Bezeq Israeli Telecommunication Corp. (BEZQ) fell the most since March 12, dropping 2.1 percent to 6.295 shekels. The country’s largest fixed-line provider said fourth-quarter profit fell to 524 million shekels ($137 million) from 575 million shekels a year earlier as revenue dropped.

Bank Leumi Le-Israel Ltd. (LUMI) rose for the third day this week, advancing 1.1 percent to 11.30 shekels. Bank Hapoalim Ltd. (POLI) climbed for the sixth day, gaining 1.6 percent to 13.56 shekels. Israel Discount Bank Ltd. (DSCT) increased 1 percent to 5.03 shekels and Mizrahi Tefahot Bank Ltd. (MZTF) advanced 1.6 percent to 33.36 shekels.

The Bank of Israel yesterday published draft guidelines, which set a minimum core ratio of 9 percent for all banks, effective Jan. 1, 2015, and a minimum ratio of 10 percent for Hapoalim and Leumi, to be implemented by Jan. 1, 2017.

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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