Tel Aviv Stock Exchange Opens Higher After Positive Wall Street Session

The Tel Aviv Stock Exchange is set to close the week with gains, following a positive overnight session on Wall Street. The TA-35 and TA-125 indices have recorded weekly increases of 1.5% and 2.2% respectively. Yesterday, the insurance sector led the gains on the Tel Aviv exchange, with insurance stocks rising 3.3% and the main indices climbing up to 0.8%.

In significant corporate news, Shikun & Binui saw its stock fall 2.5% after Nati Saidoff sold 4% of his shares for NIS 450 million, at a 5% discount. Additionally, Paz is selling its holdings in the Ashdod Refinery for NIS 75 million, a move that saw the Ashdod Refinery stock surge by 9.6%.

On Wall Street, the Dow Jones rose 1.2%, marking its best day in a month. The S&P 500 increased by 1%, and the Nasdaq gained 1.4%. Federal Reserve Governor Christopher Waller indicated a preference for holding interest rates steady, which led to a sharp drop in bond yields and a rally in stock markets.