Bloomberg News

Israel Stocks: Africa-Israel, Alvarion, Bezeq, Suny

June 06, 2012

(Corrects estimated p/e ratio in fifth paragraph.)

Israel’s TA-25 index advanced for a third day, gaining 1.4 percent to 1,070.39, the highest intraday level since May 22 at 2:13 p.m. in Tel Aviv.

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

Africa-Israel Investments Ltd. (AFIL) increased 3.1 percent, the most since May 21, to 12.28 shekels. The holding company said it increased its stake in a real-estate unit.

Alvarion Ltd. (ALVR:US) advanced 3.8 percent, the biggest intraday gain since May 28, to 1.936 shekels. The developer of wireless access solutions said it will streamline operations and cut costs to help achieve profitability.

Bezeq Israeli Telecommunication Corp. (BEZQ IT) rose 1.7 percent to 4.85 shekels, headed for the highest close since May 31. Israel’s largest fixed-line operator trades at 6.4 times estimated earnings, after falling 22 percent in May. That compares with an average 12.1 times for the MSCI World Telecom Services Index and 10.4 times the TA-25 index.

Internet Gold-Golden Lines Ltd. (IGLD:US) , which owns a stake in Bezeq via its B Communications Ltd. (BCOM) unit, jumped 8.1 percent to 13.41 shekels and B Communications, owner of a 31 percent interest in Bezeq, rose 3.7 percent.

Discount Investment Corp. (DISI) advanced 5.4 percent to 8.69 shekels, the highest intraday level since May 29. Globes reported the holding company is seeking to sell its stake in Ham-Let Ltd. (HAML) Ham-Let an Israeli maker of industrial- plumbing supplies, rallied 7.2 percent to 29.92 shekels.

Suny Electronics Ltd. (SUNY) gained for a second day, rising 6.2 percent to 7.77 shekels. The importer of Samsung mobile phones yesterday agreed to sell a 75 percent stake in Scailex Corp. (SCIX) to a group including Hutchison Whampoa Ltd. (13) for $125 million. Scailex declined 0.3 percent.

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


American Apparel's Future
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Companies Mentioned

  • IGLD
    (Internet Gold-Golden Lines Ltd)
    • $9.91 USD
    • -0.06
    • -0.61%
Market data is delayed at least 15 minutes.
 
blog comments powered by Disqus