Bloomberg News

Israel Stocks: Africa-Israel, Azorim, Flowsense Medical, EZchip

June 28, 2012

Israel’s benchmark TA-25 index dropped for the third day this week, sliding 1.1 percent to 1,054.38 at 1:05 p.m. in Tel Aviv. The gauge is down 1.8 percent this week and 6.3 percent this quarter.

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

Africa-Israel Investments Ltd. (AFIL) dropped 2.5 percent to 11.56 shekels, headed for the lowest level since Dec. 29. The holding company with interests in real estate said Chief Executive Officer Izzy Cohen will resign and proposed that Avraham Novogrocki, the CEO of Africa Israel Industries (AFID) Ltd. replace him. Africa Israel Industries (AFID IT) retreated 2.7 percent to 239.50 shekels, the lowest intraday level since May 28.

Azorim Investment Development & Construction Ltd. (AZRM) advanced 1.1 percent, headed for the biggest gain since June 10, to 3.31 shekels. The residential real estate developer said a unit would sell a 50 percent stake in Omaxe Azorim Developers Private Ltd. for $32 million to its Indian partner.

EZchip Semiconductor Ltd. (EZCH) advanced 1.6 percent to 155.60 shekels or the equivalent of $39.47, the highest intraday level since May 16. The U.S.-traded shares of the Yokneam, Israel-based developer of network processors rose to $39.20 yesterday.

Flowsense Medical Ltd. (FLSN) advanced 1.4 percent to 0.072 shekel, headed for the highest level since June 20, bringing its market value to 14 million shekels ($3.6 million). The maker of an automated urine monitor system said a major hospital in Belgium will use its products in emergency and operating rooms.

Queenco Ltd. (QNCO) dropped to its lowest since February 1996, tumbling 11 percent to 0.649 shekel. The investor in real estate projects said talks for an investment into the company or into its unit Queenco Leisure International Ltd. (QLI) ended without a deal.

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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