Global Markets Await Tel Aviv Stock Exchange Opening Amid Mixed US Trading

The Tel Aviv Stock Exchange is set to open today following a day of strong gains, with attention also on the impact of US markets. New York exchanges are returning from the Labor Day holiday, showing mixed early trading. Dow Jones futures are down 0.6%, S&P 500 futures are stable, and Nasdaq futures are up 0.6%. Brent crude oil is up 0.6%, while WTI crude is up 1.7%. The 10-year US Treasury yield is stable at 4.78%, and the 10-year Israeli government bond yield stands at 3.91%.

Angel Bakeries updated its damage assessment for its Kfar Horesh factory, hit by a fire in May, to NIS 100 million, significantly higher than the initial estimate of tens of millions of shekels. The insurer's refusal to compensate Angel, citing alleged non-compliance with fire safety measures stipulated in the policy, has led the parties to mediation, which began late last month. The fire reduced the factory's pita production capacity to approximately 6,000 units per hour, down from a potential of 20,000 units per hour before the incident. This disruption resulted in financial losses for the company in the first half of the year, leading to an operational and net loss.

Yesterday on the stock exchange, the TA-35 index rose 1.1%, and the TA-125 index climbed 0.7%. The technology and defense sectors led the gains, with Tower Semiconductor soaring 8.2%, Nova up 5.4%, and Camtek adding 4.3%. The defense index jumped 2.7%, with Next Vision up 4.8% and Elbit Systems up 2.2%. Spacecom saw a significant surge of 32%, as a director proposed acquiring Eurocom's stake in the company.