Business in Brief: TASE Rings in 2019 With Gains

Meanwhile state-owned Israel Aerospace Industries is in talks to invest in drone maker Aeronautics

FILE PHOTO: The Tel Aviv Stock Exchange, August, 4, 2016.
Bloomberg

TASE rings in 2019 with gains

The Tel Aviv Stock Exchange began 2019 with gains, as most world markets were closed for New Year’s. The blue-chip TA-35 index gained 1% to close at 1,478 points. Bank shares gained 2.1%. The Delek group gained 4.9% on news that it was carrying out a 100-million-shekel ($26.76 million) buyback of shares and bonds. Shapir Engineering gained 0.8% on news that it had sold 220 million in shares — 5% of its share capital — to institutional investors on New Year’s Eve, increasing the public’s holding in the company and enabling it to join the TA-35. Meanwhile, it emerged Tuesday that state-owned Israel Aerospace Industries is in talks to invest in drone maker Aeronautics, only a day after it emerged that Israel Securities Authority investigators had searched the company’s offices. Its share gained 3.2% . (Guy Erez and Shelly Appelberg)