Tel Aviv Stock Exchange Eyes Green Trend After Strong Gains
Translated & summarized from Calcalist by baba
The Tel Aviv Stock Exchange is expected to open on Tuesday following strong gains on Monday, with the TA-35 index rising 1.7% and the TA-125 up 1.8%. Key sectors like insurance and real estate saw significant increases, while Navitas Petroleum surged 6.7% on news of UK approval for an oil field development. Chip stocks were a notable exception, declining amid global competition concerns, as Wall Street closed with minor losses.
The story in 6 lines · by baba
- The Tel Aviv Stock Exchange is poised for its opening on Tuesday after a strong positive performance on Monday.
- The TA-35 index increased by 1.7% and the TA-125 index rose by 1.8% on Monday.
- Navitas Petroleum shares jumped 6.7% following UK approval for an oil field development it leads.
- Insurance and real estate sectors experienced significant gains, rising 3.2% and 3% respectively.
- Chip stocks declined, mirroring a global trend due to increased competition from a Chinese manufacturer.
- US markets closed with minor losses on Monday, with the Dow Jones down 0.4% and Nasdaq down 0.2%.
The Tel Aviv Stock Exchange is set to open on Tuesday, following a significant upward trend on Monday, with major indices closing with strong gains. The TA-35 index rose by 1.7%, the TA-125 by 1.8%, and the TA Banks index by 2.3%.
Several sectors saw substantial increases, including insurance, which jumped 3.2%, and real estate, which climbed 3%. The oil and gas sector strengthened by 3.4%, and the cleantech sector rose 2.5%. Navitas Petroleum was a standout performer, surging 6.7% after the UK approved the development of an oil field near the Falkland Islands led by the Israeli company.
Among insurance companies, Menora gained 3.8% and Harel climbed 3.3%. On the downside, chip stocks experienced a downturn, mirroring a global trend driven by increased competition from a Chinese manufacturer. Camtek lost 4.2%, Tower weakened by 1.8%, and Nova fell 1.4%.
Globally, Wall Street closed with slight losses on Monday. The Dow Jones declined 0.4%, the Nasdaq retreated 0.2%, and the S&P 500 remained largely unchanged. The market is now anticipating whether the positive momentum from Tel Aviv will continue.
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