Israeli Stocks Rise on Rate Cut Hopes, Real Estate Leads Gains

The Tel Aviv Stock Exchange saw positive trading, with real estate stocks continuing their upward trend following a recent interest rate cut by the Bank of Israel. The TA Construction index climbed 1.8%, with the TA Real Estate index up 1.6% and TA Israel Yield gaining 1.7%. Among prominent real estate stocks, Ampa surged 10%, Aura rose 3.9%, and Reit 1 Israel advanced 1.7%.

In other market news, the Treasury announced the results of a major tender for insuring state employees' vehicles for 2027. The contract, valued at over NIS 400 million and covering more than 70,000 vehicles, was awarded to Phoenix, Migdal, and WeSure. Following the announcement, WeSure's stock fell 1.4%, Migdal rose 0.3%, and Phoenix declined 0.5%.

Several stocks showed streaks of positive performance, with Azorim's stock approaching nine consecutive days of gains, Keystone marking eight, and Aura seven. Meanwhile, Arit Industries saw a significant rebound, jumping 6.5% after a substantial drop earlier in the year.

The broader TA 35 and TA 125 indices shifted from slight opening declines to gains of 0.4% and 0.5% respectively. The TA Banks index also turned positive, rising 0.9%, with Poalim and Discount Bank leading the way.

Trading opened with minor dips in the main indices, but quickly recovered. Palo Alto Networks' stock was down 1.7% in early trading after the company released its financial reports, despite exceeding analyst expectations for revenue and providing a strong forecast. The cybersecurity giant's revenue grew 34% in its fiscal fourth quarter, though it reported a net loss. The stock had fallen 1.9% in after-hours trading following the report.