Tel Aviv Stock Exchange Ends Week Up; Exchange's Own Stock Soars 15%

The Tel Aviv Stock Exchange concluded its trading week with gains, ahead of the Yom Kippur holiday closure. The TA-35 index rose approximately 1%, while the TA-90 index saw a more modest increase of about 0.2%. For the week, the TA-35 gained around 1.6%, the TA-90 lost about 1%, and the TA-125 strengthened by approximately 1%.

The technology sector led the day's advances, with a notable 2.5% rise, driven by gains in dual-listed chip stocks like Camtek, Tower, and Nova, mirroring positive trends in their U.S. counterparts. The Cleantech index also performed well, up by about 2.4%, with Nofar Energy, Enlight Energy, and Doral Energy showing strong gains. Conversely, the banking sector was the weakest performer, declining by approximately 1.5%.

The standout performer was the Tel Aviv Stock Exchange's own stock, which surged 15% to achieve its best day since its 2019 IPO. This surge followed the announcement of a new strategic plan for 2027-2031, which targets an average annual revenue growth of 15%-18%, building on the successful achievement of its previous 10%-12% growth target. Trading volume for the day totaled approximately 6.58 billion shekels.

Earlier in the day, trading showed a positive trend, with the TA-35 index up around 1% and the TA-90 index up about 0.5%. The technology sector was again a strong performer, up approximately 2.4%, with chip stocks like Camtek and Tower showing significant gains, influenced by early trading in U.S. chip stocks. The Cleantech index also saw gains, with Nofar Energy being a notable riser. The banking index remained the weakest sector, down about 0.5%.

Other notable stock movements included a jump in Airangi Tech shares following a private investment of approximately 43 million shekels, with plans for further investment rounds. The company announced that Shachar Machat, a partner at Hachshara Europe, would join as a significant investor. The total investment from two rounds is expected to reach about 93 million shekels.