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 1.5 percent to 1,111.48 at the 4:30 p.m. close in Tel Aviv. Investors traded about 1.2 billion shekels ($313 million) of shares and convertible securities, according to data from the bourse.

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

Cellcom Israel Ltd. (CEL) , Israel’s biggest mobile-phone provider, dropped 3.7 percent to 41.50 shekels, the lowest on record. Golan Telecom Ltd. and Hot Telecommunication System Ltd. started their wireless services. Partner Communications Co. (PTNR IT), the country’s second-biggest cellular company, lost 3.4 percent to 25.70 shekels, the lowest close since September 2003. Hot (HOT IT) declined 4.2 percent to 37.77 shekels.

D. Medical Industries Ltd. (DMED) soared 60 percent, the most since November 2004, to 2.12 shekels. Units of the maker of drug-delivery devices agreed with a South Korean company to distribute the Spring Universal Infusion Sets with minimum order quantities of $5 million.

IDB Holding Corp. (IDBH) dropped as much as 6 percent to 22.10 shekels before closing at 23.30 shekels. Standard & Poor’s Maalot downgraded the Israeli holding company’s ratings due to “weak” liquidity.

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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