Israel’s Mellanox Technologies Ltd. (MLNX:US) 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 firstname.lastname@example.org To contact the editor responsible for this story: Claudia Maedler at email@example.com