Tel Aviv Stock Exchange Ends Slightly Down Amid Mixed Sector Performance

The Tel Aviv Stock Exchange concluded a trading day with minor fluctuations, reversing earlier gains. Real estate stocks continued their downward trend for a second consecutive day, while oil and gas shares surged due to rising global oil prices and positive financial reports from Energean. The TA-35 index weakened by 0.1%, the TA-125 by 0.2%, while the TA-Banks index strengthened by 0.2%. The TA-Real Estate index fell 1.3%, and the TA-Oil & Gas index jumped 2.4%.

Altshuler Shaham Finance saw a significant 14.6% increase after confirming reports that its controlling shareholders are considering selling their stake. Energean's stock climbed 9% following the release of its financial results, which indicated profit growth. Other oil and gas companies like Navitas Petroleum and Tamar Petroleum also saw gains, rising 2.2% and 2% respectively.

Mizrahi Tefahot Bank successfully raised NIS 4.3 billion in a debt offering, exceeding its initial target of NIS 2.8 billion due to strong demand. The bank's CEO, Moshe Lari, stated that the demand reflects institutional investors' confidence in the bank.

In other corporate news, Meitav Provident Funds will invest NIS 80 million in Israel Canada Hotels, acquiring a 7.2% stake and becoming a significant shareholder. This investment values the hotel operator at NIS 1.1 billion post-investment. Israel Canada Hotels has previously seen investments from Harel and Menora.

Energean reported a net profit of $160 million for the first half of 2026, a 45% increase year-over-year, despite an 8% decrease in production revenues to $743 million. The company attributed the profit increase partly to a tax benefit in Italy and noted that a 41-day production halt in Israel due to security escalations impacted its results. The company also signed a gas supply agreement with Shurak and continues development of the Karish field.