ADRs in Focus: Israel index mostly flat

Foreign Minister Tzipi Livni, a member of Olmert's own Kadima Party, said Thursday that party elders must stand ready to replace the country's leader.

Olmert is accused of taking tens of thousands of dollars worth of bribes from a U.S. businessman. He has yet to be indicted, however.

Livni's comments added credence to a chorus of opposition to the 62-year-old Olmert, who was formerly mayor of Jerusalem and assumed power after former Prime Minister Ariel Sharon suffered a stroke in 2006.

Defense Minister Ehud Barak--himself a former Israeli prime minister--said Wednesday said he would pull his Labor Party out of the coalition government if Olmert does not resign.

As the investigation continued to unfold Tuesday, the Bank of New York Israel ADR Index gained 0.90 points to 318.05. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.

Shares of XTL Biopharmaceuticals Ltd. gained 10 cents, or 3.4 percent, to $3.05, and shares of Blue Square Israel Ltd. jumped 59 cents, or 4.4 percent, to $14.15.

NICE Systems Ltd. shares posted the biggest drop, losing 34 cents to $34.52.

Teva Pharmaceutical Industries Ltd. fell a penny to $45.23.

Shares of Partner Communications Co. shed 7 cents to $24.32.