Bloomberg News

Israel Stocks: Ampal-American, Gulliver Energy, ICL, Harel

April 03, 2012

Israel’s TA-25 index advanced for a third day, gaining 1 percent to 1,146.78 at the 4:30 p.m. close in Tel Aviv. Investors traded about 868 million shekels ($233 million) of shares and convertible securities, according to bourse data.

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

Ampal-American Israel (AMPL:US) Corp, holder of a stake in a company that exports natural gas from Egypt to Israel, surged 34 percent, the biggest gain since at least August 2006 when Bloomberg started tracking the data, to 1.126 shekels. The company reached an agreement with bondholders, Globes newspaper reported on its website, without saying where it got the information. Two messages left on the voice mail of a company spokesman weren’t returned.

Gulliver Energy Ltd. (GLVR) (GLVR IT) jumped 11 percent, the most since July, to 0.334 shekel, giving the Ramat Gan, Israel-based company a market value of 67.7 million shekels. The oil and natural gas company got a license to explore for minerals including uranium at the Hatrurim site in the Negev.

Harel Insurance Investments & Financial Services Ltd. (HARL) advanced 3.6 percent to 139 shekels, the highest since Feb. 15. The insurance company said a subsidiary is considering an investment in either equity or debt of ADO Group Ltd. (ADO) , a real estate investor. Ado advanced 9.1 percent to 0.24 shekel, the most since Oct. 5.

Israel Chemicals Ltd. (ICL) , which extracts minerals from the Dead Sea to make fertilizer and potash, climbed 1.5 percent, the most since March 26, to 43.15 shekels. Corn for May delivery jumped 8.8 percent in the last three days, and was up 0.3 percent to $6.5725 a bushel.

Space Communication Ltd. (SCC) advanced 1.2 percent to 65.49 shekels, the highest level since Feb. 12. The satellite services provider said a contract to provide communication services in Africa has been extended through June 2017. Space Communication estimates total revenue from the contract at $27.6 million.

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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