Story
TA 35 Index Climbs 1.39% as Energy and Financial Sectors Lead Tel Aviv Gains
Summary
Israel's benchmark TA 35 index closed higher on Tuesday, buoyed by strong performance in the insurance, oil & gas, and financial sectors. Technology shares like Tower Semiconductor were among the top performers of the session.
Israeli equities advanced at the close of trading on Tuesday, with the benchmark TA 35 index rising 1.39%. The gains were broad-based, led by notable strength in the Insurance, Oil & Gas, and Financials sectors, according to session data from the Tel Aviv Stock Exchange (TASE).
Session Highlights
The market breadth on the TASE was positive, as 273 stocks rose while 209 declined, with 78 issues ending the session unchanged. The technology sector saw significant movement, with several key names posting large gains or losses.
Key movers on the TA 35 index included:
- Tower Semiconductor Ltd (TASE:TSEM), which surged 6.44%.
- Camtek Ltd (TASE:CAMT), adding 4.43% to its value.
- ICL Israel Chemicals Ltd (TASE:ICL), which climbed 4.23%.
AdOn the downside, the session's worst performers were Mega Or (TASE:MGOR), falling 5.31%, and NICE Ltd (TASE:NICE), which declined 3.06%.
Commodities and Currencies
The gains in Tel Aviv's Oil & Gas sector coincided with a rally in global energy markets. Crude oil futures for September delivery rose 2.28% to $84.36 a barrel, while the Brent oil contract for September gained 2.25% to hit $91.23 a barrel.
In foreign exchange markets, the Israeli shekel was little changed against the U.S. dollar, with the USD/ILS pair holding steady at 3.05. Meanwhile, the euro weakened slightly against the shekel, with the EUR/ILS pair falling 0.16% to 3.48. The US Dollar Index Futures, which measures the greenback against a basket of major currencies, was up 0.18% at 100.97.
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