Israeli Stocks Fall on Opening Amid Negative Arbitrage Gaps
Israeli dual-listed stocks experienced declines on the Tel Aviv Stock Exchange early Tuesday morning, with Nice, Tower, and Ormat each dropping 2% or more. These drops were attributed to negative arbitrage gaps, reflecting moderate declines in Asian markets. Futures on Wall Street hovered around zero.
In broader market movements, the Nasdaq saw a 0.64% decrease year-to-date, while the Dow Jones was down 0.77% year-to-date. The S&P 500 showed a 0.48% decline year-to-date, and the Global Dow experienced a 0.08% decrease year-to-date. Trading in prominent stocks on the TA-35 and TA-125 indices had not yet entered continuous trading, with no notable movers among the rising or falling stocks.
Despite the early downturn, some individual stocks showed significant gains, with Altshuler soaring 14% and Energean rising 9%. However, the main indices closed negatively on Monday, with real estate and insurance sectors experiencing declines. Erodrom and Eretz fell by up to 6%.
