Tel Aviv 35 Index Falls After Wall Street Opens Lower, Erasing Gains
Translated & summarized from Maariv by baba
The Tel Aviv 35 index erased earlier gains and closed down 0.2% after Wall Street opened lower, with insurance and oil stocks rising but technology shares falling sharply.
The story in 6 lines · by baba
- Tel Aviv 35 index closed down 0.2% after Wall Street opened lower.
- Insurance stocks surged, led by Clal Insurance’s 4.8% rise post-earnings.
- Oil and Gas Index rose 3.54%, driven by Delek Group’s 5.58% gain.
- Technology sector dropped 3.05%, with major chipmakers falling over 4%.
- Renewable energy stocks also declined amid overall market weakness.
- Trading volumes reached 3.9 billion shekels in stocks and 4.7 billion in bonds.
The Tel Aviv Stock Exchange saw mostly positive trading during the day, but the opening of Wall Street shifted the trend downward toward the close. The TA-35 index ended down 0.2%, while the TA-125 index declined marginally by 0.02%. In contrast, the TA-90 index maintained positive momentum, rising 0.58%. Insurance stocks stood out with strong gains; the TA Insurance Index surged 4.22%, led by Clal Insurance which rose 4.8% following its earnings report, alongside increases in Menora and Harel. The Oil and Gas Index also climbed 3.54%, driven by Delek Group’s 5.58% rise after its quarterly report.
On the downside, technology shares weighed on the market. The TA Technology Index dropped 3.05%, with chipmakers Camtek, Tower Semiconductor, and Nova continuing their negative trend from Wall Street’s opening, with Camtek falling 7.27%, Tower down 7.08%, and Nova declining 4.62%. The renewable energy sector also showed weakness. The total trading volume on the stock market was approximately 3.9 billion shekels, while the bond market turnover reached about 4.7 billion shekels. In currency trading, the US dollar traded around 2.985 shekels, the euro near 3.466 shekels, and the British pound at approximately 4.048 shekels.
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