Delek Drilling-LP and Avner Oil Exploration LLP led declines on Israel’s benchmark index on concern uncertainty on government-imposed export quotas would hinder further development of offshore gas fields.
Israel’s central bank needs to follow yesterday’s surprise interest rate cut and dollar purchase plan with more measures to succeed in stemming the shekel’s gains, the currency’s most accurate forecasters say.
Israeli government bonds rose, pushing the yield on the debt down to the lowest in more than a week, after Finance Minister Yair Lapid reached an accord with union leaders, smoothing approval of his proposed budget next week.
Elbit Systems Ltd. advanced to the highest in more than a year on bets Israel’s biggest private developer of defense technology may renew Turkish sales after the Jewish state and Ankara agreed to normalize ties.
Potash Corp. of Saskatchewan Inc., considering a takeover bid for Israel Chemicals Ltd., is preparing concessions ranging from job guarantees to a local stock-market listing to allay concern that a deal would harm Israel’s national interests, according to a person familiar with the plans.