Bloomberg News

Israel Stocks: Allot, Israel Corp., Migdal, Jerusalem Economy

May 30, 2012

Israel’s TA-25 index declined to its lowest intraday level since May 24, sliding 0.7 percent to 1,049.12 at 11:24 a.m. in Tel Aviv. The gauge has dropped 9.9 percent this month.

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

Allot Communications Ltd. (ALLT:US) headed for the highest close on record, advancing 7.9 percent to 101.3 shekels, or the equivalent of $26.12. The U.S.-traded stock of the Israeli maker of high-speed networking equipment added 11 percent to $26.40 in New York yesterday.

Israel Corp. (ILCO) headed for the biggest drop in a week, retreating 1.7 percent to 2,134 shekels. The holding company with investments in shipping, chemicals and construction, said its loss widened to $82 million from $57 million in the same period last year.

Migdal Insurance & Financial Holding Ltd. (MGDL) declined 1.8 percent to 5.111 shekels, the lowest intraday level since May 22. The insurance holding company said first-quarter net income declined 20 percent to 90.7 million shekels ($23.4 million) from 112.9 million shekels in the same period a year earlier.

Jerusalem Economy Ltd. (ECJM) declined 2.5 percent, the most since May 24 in intraday trading, to 23.40 shekels. The operator of office, industrial and commercial buildings, posted a loss of 37.6 million shekels in the first quarter after a profit of 167 million shekels a year earlier.

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

  • ALLT
    (Allot Communications Ltd)
    • $10.6 USD
    • 0.15
    • 1.42%
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