Azrieli Seeks Partner for Data Center Firm Amid Ongoing Iran Tensions Impacting Tel Aviv Market

Azrieli Group has resumed efforts to bring in a partner for its fully owned data center company, Green Mountain. The company has hired Goldman Sachs to identify a partner and has recently begun meetings with investors in London. Azrieli aims for the partner to invest around one billion euros, valuing Green Mountain at between four and five billion euros pre-money, though some in the company hope for a higher valuation.

Meanwhile, investors on the Tel Aviv Stock Exchange are closely monitoring developments in Iran and global market movements, including a continued rise in oil prices. Brent and WTI crude prices increased by 1% this morning following a more than 6% surge in New York the previous evening. U.S. stock indices showed mixed results: the Dow Jones fell 1.1%, the S&P 500 declined 0.3%, and the Nasdaq rose 0.2%. The yield on the 10-year U.S. Treasury bond stands at 4.58%, up 5 basis points yesterday and another basis point this morning, while Israel's 10-year bond yield is at 3.73%.

The U.S. military announced overnight that, under the direction of the top commander, Central Command (CENTCOM) launched additional strikes against Iran for the second consecutive night. The strikes aim to further degrade Iran's ability to threaten freedom of navigation in the Strait of Hormuz. In response, Iran's Revolutionary Guards claimed early this morning that they attacked four U.S. military bases in Kuwait and Bahrain.

Yesterday, the Tel Aviv Stock Exchange closed mostly stable, with the TA-35 index unchanged and the TA-125 down 0.3%. The banking index rose 1.4%, led by Bank Hapoalim and Bank Leumi gaining 1% each, Discount Bank up 1.3%, Mizrahi Tefahot up 2.8%, and Bank International climbing 3%. Market participants await the opening of trading today amid these geopolitical tensions and market fluctuations.