Bloomberg News

Israel Stocks: IDB Holding, Mellanox, Modiin, Prolor, Teva

May 06, 2012

Israel’s TA-25 index retreated the most in three weeks, declining 1.8 percent to 1,147.07 at the 4:30 p.m. close in Tel Aviv. Investors traded about 576 million shekels ($152 million) of shares and convertible securities, according to bourse data.

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

IDB Holding Corp. (IDBH) declined to the lowest level since Bloomberg began tracking the shares in 1995, plummeting 6.5 percent to 23.29 shekels. TheMarker reported that the First International Bank of Israel Ltd. is limiting the ability of clients to use IDB bonds as a collateral.

Mellanox Technologies Ltd. (MLNX) declined to the lowest level since April 19, falling 3.5 percent to 213.40 shekels, or the equivalent of $56.29, narrowing the gap with the U.S.-traded shares. The stock retreated 1.9 percent to $56.07 on May 4 in New York.

Modiin-LP (MDINL) advanced to the highest level since March 14, adding 4.8 percent to 0.373 shekel. The gas and oil exploration company will participate in drilling at the Shimshon 1 site.

Prolor Biotech Inc. (PBTH IT) declined to the lowest level in three weeks, sliding 1.5 percent to 20.12 shekels. The biotechnology company’s first-quarter loss widened to $4.99 million from $3.46 million a year ago.

Teva Pharmaceutical Industries Ltd. (TEVA) dropped the most since Jan. 29, falling 2.6 percent to 169.10 shekels, or the equivalent of $44.61. The world’s largest maker of generic drugs narrowed the gap with its U.S.-traded stock that fell to $44.44 on May 4.

To contact the reporter on this story: David Wainer in Tel Aviv at dwainer3@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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