Bloomberg News

Israel Stocks: Cellcom Israel, Partner, Hot, IDB Holding

May 14, 2012

Israel’s TA-25 index declined to the lowest level since April 15, retreating 1.6 percent to 1,110.22 at 2:08 p.m. in Tel Aviv.

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

Cellcom Israel Ltd. (CEL) , Israel’s biggest mobile-phone provider, dropped 3.3 percent to 41.65 shekels, its lowest level on record. Golan Telecom Ltd. and Hot (HOT) Telecommunication System Ltd. started their wireless services. Partner Communications Co. (PTNR IT), the country’s second-biggest cellular company, headed for the weakest close since September 2003, slipping 3.4 percent to 25.70 shekels. Hot (HOT IT) declined 3.1 percent to 38.19 shekels.

IDB Holding Corp. (IDBH)(IDBH IT) dropped 2.8 percent to 22.85 shekels, poised for the lowest close since January 1995 when Bloomberg started tracking the shares. Standard & Poor’s Maalot downgraded the Israeli holding company’s ratings due to “weak” liquidity.

Editors: Peter Branton, Claudia Maedler

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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