Tel Aviv Stock Exchange Closes Higher on Lower Inflation Data

The Tel Aviv Stock Exchange concluded trading on a positive note, buoyed by inflation data for August that came in slightly lower than anticipated. The TA-35 index saw a rise of approximately 1.1%, while the TA-90 index remained largely unchanged. The Israeli Shekel also strengthened against the US Dollar, trading around 3.03 Shekels per Dollar.

Sector-wise, the cleantech and technology indices led the gains, climbing by about 1.8% and 1.5% respectively. Notable stock performers included Doral Energy and Tower Semiconductor. The defense index also performed well, up by around 1.3%, driven by companies like Next Vision. The insurance index advanced by approximately 1.4%, with construction and banking indices also showing gains of over 1%.

In other market news, the Altshuler Shaham company experienced volatility. Following a significant surge of over 14% last Wednesday due to an acquisition deal by WeSure Insurance, the stock reversed all those gains over the subsequent trading days. Analysts noted that the Shekel's strengthening after the inflation data release, despite the lower-than-expected figures which might typically support interest rate cut expectations, indicates a broader range of factors influencing the currency, including position adjustments and the absence of major surprises.

The article also touched upon global market trends, including mixed trading in Asia and futures in the US. It referenced the upcoming US Federal Reserve interest rate decision and the impact of high oil prices on bond yields, with US 10-year Treasury yields reaching a 19-year high. The ongoing geopolitical tensions and their effect on oil supply were also discussed.