Bloomberg News

Israeli Stocks: Teva, Elbit Imaging, Cellcom, Partner, Kamada

April 01, 2012

Israel’s TA-25 index advanced for the first time in three days, gaining 0.4 percent to 1,129.43 at the 4:30 p.m. close in Tel Aviv. Investors traded about 531.6 million shekels ($143 million) of shares and convertible securities, according to bourse data.

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

Cellcom Israel Ltd. (CEL) , Israel’s largest mobile-phone provider, declined 3.6 percent, to 45.30 shekels, the lowest level on record. Partner Communications Ltd. (PTNR) , the country’s second biggest mobile-phone company, fell 3.4 percent to 27.65 shekels. “They are in a very competitive market and if they raise prices they will lose market share,” said Ilanit Sherf, an analyst at Psagot Investment House Ltd.

Elbit Imaging Ltd. (EMIT) advanced 4.5 percent, the most since March 26, to 10 shekels, giving the company a market value of 249 million shekels. The real estate investor said it will post a gain of about 180 million shekels from the sale of four hotels in the Netherlands.

Kamada Ltd. (KMDA) advanced 4.7 percent to 22.40 shekels, the highest close since Nov. 13, giving the Nes Ziona, Israel-based company a market value of 619 million shekels. Revenue this year will be 257 million shekels after 213 million shekels in 2011, the pharmaceutical company forecast.

Teva Pharmaceutical Industries Ltd. (TEVA) advanced 2.9 percent, the biggest jump since Jan. 4, to 168.80 shekels. The world’s largest maker of generic drugs said it started shipping the authorized generic of Provigil, marketed by its Cephalon Inc. subsidiary.

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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