Tel Aviv Stock Exchange Edges Up on Global Rally

The TASE’s TA-25 is 8% below where it was nearly two years ago, but the market nevertheless got some tailwind from rising share prices overseas on Wednesday.

Send in e-mailSend in e-mail

The Tel Aviv Stock Exchange is something of a wallflower in the global stock market party, where the Dow Jones closed at a six-year record Tuesday and European markets reached their highest levels since 2008.

The TASE’s TA-25 is 8% below where it was nearly two years ago, but the market nevertheless got some tailwind from rising share prices overseas Wednesday, with the benchmark index edging up a little less than 0.23% to a close of 1,228.23 points. The broader TA-100 added 0.2% to 1,098.72. Turnover was just over NIS 1 billion.

On Wednesday, after a day of new records, European markets were more subdued. The pan-European ESTOXX 50 was flat and the FTSEurofirst 300 slipped 0.1%. In morning trading in New York, the Dow Jones industrial average was up 0.2% at 14,279.57.

In foreign currency trading, the dollar and euro both lost ground against the shekel. The greenback weakened 0.2% to a Bank of Israel rate of NIS 3.726 while the euro was off nearly 0.1% to NIS 4.86.

Clal Industries ended down 3.9% to NIS 14.41 and was the most heavily traded stock of the day, with some NIS 81 million changing hands. Seeking cash for its balance sheet, Nochi Dankner’s IDB Development Corporation sold its last remaining 10.6% in the holding company to institutional investors at a price of NIS 13.30 a share, NIS 1.70 less than its Tuesday closing price.

Ratio led energy shares lower after Ratio fell 5% to 32 agorot after Raz assigned its target price of 29 agorot and tagged it’s a Market Underperform. Avner, which got a Market Perform rating and a target price of NIS 2.50, fell 3.8% to NIS 2.50.

In contrast to the stock market, bond indices continue to set new records, with the Tel Bond 20, 50 and 60 indices all rising about 0.16%.

The Tel Aviv Stock Exchange.Credit: Guy Raivitz

Click the alert icon to follow topics:

Comments

SUBSCRIBERS JOIN THE CONVERSATION FASTER

Automatic approval of subscriber comments.

NOW: 40% OFF
Already signed up? LOG IN

ICYMI

הקלטות מעוז

Jewish Law Above All: Recordings Reveal Far-right MK's Plan to Turn Israel Into Theocracy

איתמר בן גביר

Why I’m Turning My Back on My Jewish Identity

Travelers looking at the Departures board at Ben Gurion Airport. The number of olim who later become yordim is unknown.

Down and Out: Why These New Immigrants Ended Up Leaving Israel

Beatrice Grannò and Simona Tabasco as Mia and Lucia in "The White Lotus."

The Reality Behind ‘The White Lotus’ Sex Work Fantasy

The Mossad hit team in Dubai. Exposed by dozens of security cameras

This ‘Dystopian’ Cyber Firm Could Have Saved Mossad Assassins From Exposure

מליאת הכנסת 28.12.22

Comeback Kid: How Netanyahu Took Back Power After 18 Months in Exile