Israel’s Mellanox Technologies Ltd. (MLNX) will extend gains as prospects of higher spending in the industry outweigh global slowdown concern, Wunderlich Securities Inc. said.

     EQUITY MOVERS:
* Modiin-LP (MDINL IT), the oil and gas explorer, and partners
approved an additional $4 million budget for the Myra site as
they reported a drill-pipe problem.
* Elbit Imaging Ltd. (EMIT IT) said a unit entered a 75 million-
shekel ($19 million) bond structured transaction with a leading
global financial institution.
* Teva Pharmaceutical Industries Ltd. (TEVA IT), the world’s
largest maker of generic medicines, received a subpoena from
U.S. regulators in connection with a bribery investigation in
Latin America.

     MARKETS:
* The TA-25 Index dropped 1 percent to 1,096.01 on Aug. 2.
* The yield on the Mimshal Shiklit government bonds due January
2022 was at 3.91 percent.
* The shekel strengthened 1.2 percent to 3.9723 a dollar on Aug.
3.
* Corn for December increased 1.5 percent to $8.075 a bushel.
* Crude oil for September delivery jumped 4.9 percent to $91.40
a barrel.
 * Gold for immediate delivery added 0.9 percent to $1,603.48 an
ounce.



To contact the reporter on this story:
David Wainer in Tel Aviv at 
dwainer3@bloomberg.net

To contact the editor responsible for this story:
Claudia Maedler at 
cmaedler@bloomberg.net