תל אביב ננעלה בירידות, על רקע הסערה בשווקים ברחבי העולם

The Tel Aviv Stock Exchange closed the trading day with declines, mirroring a negative sentiment in global markets. The TA-35 index fell by approximately 1.1%, and the TA-90 index by about 0.4%. These drops are attributed to concerns over a potential escalation of conflict with Iran, worries about excessive debt taken on by AI companies, and turmoil in France. Oil prices, however, rose to a six-month high due to fears of further disruptions in global supply.

The insurance index led the declines, dropping by about 2.1%, followed by the finance index (-1.2%), and the technology and banking indices, both down by approximately 0.6%. Dual-listed chip stocks like Camtek, Tower, and Nova were particularly affected, reflecting a downturn in the semiconductor sector on Wall Street, where the SOXX ETF fell by about 5%.

Conversely, the TA-Oil & Gas index was the sole gainer, rising by about 0.9% on the back of higher oil prices. The trading turnover amounted to approximately 4 billion shekels.

In a separate development, the Hagej group is reducing its holdings in Rani Zim Central Purchases, selling 7.5% of the company's shares for 75 million shekels. Rani Zim also has an option to purchase an additional 7.5%, which could make it the sole controlling shareholder. Following the transaction, Hagej's stake will decrease to about 22.16%, while Rani Zim's will increase to approximately 36%.

Earlier in the day, the Bank of Israel decided to keep its benchmark interest rate unchanged at 3.25%. The decision was influenced by concerns over the shekel's depreciation, global interest rate environments, and budgetary uncertainty ahead of elections. Governor Amir Yaron expressed confidence in the Israeli economy's resilience but criticized the government's budget priorities, warning that geopolitical uncertainty and rising global yields necessitate fiscal prudence and a low debt-to-GDP ratio.

The Bank of Israel's research division also announced a significant change in how it measures economic growth, separating the output of foreign tech companies abroad to provide a clearer picture of the domestic economy. This adjustment reveals that the real domestic economy is expected to grow by 3.4% this year, leading to a higher debt-to-GDP ratio of about 70% when calculated on this basis.

Globally, Asian markets experienced significant declines, with China officially entering a bear market. US stock futures also indicated sharp drops, influenced by geopolitical tensions in the Persian Gulf and concerns about AI sector valuations. In contrast, Wall Street had closed the previous day with gains, driven by the technology sector, with Nvidia and Meta reporting strong results.