Tel Aviv Stock Exchange Closes Lower Amid Global Trends; Altshuler Shaham Soars

The Tel Aviv Stock Exchange concluded trading on a downward trend for the second consecutive day, mirroring global markets. The TA-35 index dipped by 0.1%, while the TA-90 index fell by 0.7%, marking its third day of decline. Geopolitical tensions between the US and Iran, coupled with a surge in oil prices, contributed to the negative sentiment.

Despite a 2% rise in the Oil and Gas index, most other sector indices were in the red. Defense and Cleantech stocks saw declines of over 2%, Real Estate indices dropped by approximately 1%, and the Insurance index fell by about 1%. The Banking index remained unchanged.

Among the top 125 stocks, Energian, Strauss, and Electra Real Estate showed positive movement. Conversely, Doral Energy, Ormat, and RPT Optical were among the biggest decliners.

A significant development involved the investment house Altshuler Shaham, whose stock surged by approximately 15%. This rise followed reports that the owners, Gilad Altshuler and Kalman Shaham, are considering selling their shares in the company. Altshuler Shaham confirmed in a filing that the controlling shareholders are "periodically examining offers and opportunities" regarding their holdings.

Energian's stock also climbed following its semi-annual report, which included the announcement of a new gas supply agreement with the Sorek power station set to commence in September 2026. The agreement is valued at up to $1.4 billion over approximately 15 years.

In other corporate news, Tiv Ta'am is expanding its trade activities by partnering with Granot in the fruit and vegetable sector. Mizrahi Tefahot Bank successfully raised approximately 4.3 billion shekels in a debt offering, exceeding its initial target due to strong institutional demand. Additionally, Gilat Satellite Networks announced a contract worth over $32 million with the US Department of Defense for satellite communication terminals.