Bloomberg News

Israel Stocks: Ampal, Internet Gold, Osem, B Communications

April 09, 2012

Israel’s TA-25 index declined for a second day, retreating 0.3 percent to 1,133.65 at the 2:45 p.m. close in Tel Aviv. The stock market shuts early this week to mark the Passover holiday. Investors traded about 316.6 million shekels ($84.4 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, which owns a stake in a company that exports natural gas from Egypt to Israel, dropped 4.1 percent, the biggest decline since April 4, to 0.969 shekel. A blast hit a pipeline that exports gas from Egypt to Israel, the Middle East News Agency reported today. A spokesman for Ampal was not available for comment.

Internet Gold-Golden Lines Ltd. (IGLD:US) declined 5.9 percent to 19.78 shekels, the lowest level since May 2009. The shares have tumbled 22 percent this month on bets government regulation of Bezeq Israeli Telecommunication Corp. (BEZQ) , controlled by Internet Gold, will erode profit. Bezeq dropped 1.3 percent to 5.743 shekels. B Communications Ltd. (BCOM) , which holds a 31 percent stake in Bezeq according to data compiled by Bloomberg, declined 4.6 percent to 28.60 shekels.

Ituran Location and Control Ltd. (ITRN IT) jumped 5.1 percent, the most since Oct. 16, to 52.95 shekels. The maker of systems for locating stolen vehicles said General Motors Brazil will offer its unit’s anti-theft services in Chevrolet vehicles.

Strauss Group Ltd. (STRS) , the food producer, declined 0.9 percent, the most since March 29, to 45.74 shekels. Osem Investments Ltd. (OSEM) fell 1.4 percent, the biggest retreat since March 28, to 56.56 shekels.

“There are concerns that as we get into summer we will see a renewal of consumer protests which will put pressure on the prices and sales of food makers ,” said Gil Dattner, an analyst at Bank Leumi Le-Israel Ltd. in Tel Aviv. “This comes in addition to a weaker economic environment.”

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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Companies Mentioned

  • IGLD
    (Internet Gold-Golden Lines Ltd)
    • $10.5 USD
    • 0.64
    • 6.09%
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