Tel Aviv Stock Exchange Ends Day in Red Amid Global Declines

The Tel Aviv Stock Exchange (TASE) continued its negative trend on Tuesday, mirroring global market downturns and influenced by rising oil prices due to increased geopolitical uncertainty. The TA-35 index fell by 0.5%, and the TA-125 index declined by 0.6%, marking the second consecutive day of losses for both.

Sector-specific indices also saw declines, with TA-Real Estate down 1.4%, TA-Construction losing 1.9%, TA-Oil and Gas dropping 1.1%, and TA-Defense retreating 1.3%. The TA-Cleantech index was an outlier, gaining 1.1%.

Notable individual stock performances included significant drops for Eretz Industries (down 5.7%), Ackerstein (down 5.4%), Dori (down 4.6%), Aura (down 4.1%), Shufersal (down 2.7%), and ICL (down 2.6%). Electra Real Estate experienced a particularly sharp decline, falling 15.9% and losing 32.1% of its value since the beginning of September.

In the energy sector, Ratio gained 1.3%, while New-Med retreated 1.2% following the cancellation of a gas supply deal with Dalia Energy by the Leviathan partners. Nofar Energy rose 1.3% after putting its solar rooftop and storage operations up for sale.

In other business news, BlueGen, a desalination arm of Generation Capital, and AES Infrastructure have extended negotiations to include a partner in the Palmahim desalination facility until November 30. AES is expected to acquire a 50% stake in the facility, currently held by BlueGen.