Monday, April 20, 2009

1.4 Pct Decline in Tel Aviv-25 Index

. Monday, April 20, 2009

By stockOzone team

The Tel Aviv-25 Index fell the most in five days, dropping 11.05, or 1.4 percent, to 782.38 at the close in Tel Aviv on Sunday. Investors traded about NIS 2.07 billion in shares and convertible securities.

The following were among the most active stocks in the Israeli market on Sunday.

Africa Israel Investments Ltd. fell for the first time in April, declining NIS 9.30, or 11%, to NIS 75.70.

Israel's Securities Authority will investigate the surge in the share price of the real estate company owned by Lev Leviev this month, it was reported in the Hebrew press on April 17.

B. Gaon Holdings Ltd., an investment company, gained for the first time in four days, increasing NIS 0.07, or 7%, to NIS 1 shekel. Gaon and Meitav Investment House Ltd. are in talks with Direct Insurance Financial Investments Ltd. about a possible merger of their capital-markets businesses.

Bank Hapoalim Ltd. fell the most in five days, dropping NIS 0.20, or 2.1%, to NIS 9.20. The country's second-biggest bank may receive criticism from the Bank of Israel's commercial-banking supervisor after replacing its chief executive officer, Ha'aretz said, without citing anyone.

Delek Group Ltd., the holding company with stakes in energy, financial services and real estate, climbed to the highest in seven months, increasing NIS 16.60, or 4%, to NIS 433.20. Delek US Holdings Inc.'s refinery in Tyler, Texas, may begin operating again next week after a November 20 explosion shut the plant.

Hadasit Bio Holdings Ltd. gained the most in six months, increasing NIS 0.17, or 16%, to NIS 1.21. Hadasit said Tolarex, one of its portfolio companies, received approval from Israel's Health Ministry to begin a Phase I/IIa clinical trial of a drug to treat Graft versus Host Disease.

Disclosure: Author does not own any of the stocks discussed here.

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