The Ticker: Aeronautics Profit Up Despite Police Woes

TASE marks mild gains in trade

Visitors stand in front of a stock market ticker screen in the lobby of the Tel Aviv Stock Exchange in Tel Aviv, Israel, August 4, 2016.
Rina Castelnuovo/Bloomberg

Aeronautics profit up despite police woes

Embattled drone maker Aeronautics saw its profits grow by 5% to $40 million in the third quarter of the year, compared to the same quarter in 2016. The growth comes primarily due to revenues from its sales of unmanned aircraft and electrooptic systems. The companys share increased 6% in trade in Tel Aviv on Wednesday. The growth comes even as the drone maker is facing a criminal investigation by Israeli police involving a transaction with a major customer. The affair is under gag order. In August, it was reported that the Defense Ministry launched an investigation into a complaint that the company had carried out a demonstration at Azerbaijans request of a kamikaze drone on a manned Armenian army post. (Eran Azran)

TASE marks mild gains in trade

The Tel Aviv Stock Exchange finished Wednesdays trading session with mild gains, as the blue-chip Tel Aviv-35 Index closed up 0.2% at 1,449 points, and the broader Tel Aviv-125 Index gained 0.1% to close at 1,324 points. Bank shares gained 0.2%, and insurance shares gained 1%, led upward by Migdal, which was up 2.7% after publishing its financial reports. Other notable shares included Oil Refineries, off 3% on the news that it was bringing back its previous CEO, Yashar Ben Mordecai, six years and three CEOs after he left the company. Total turnover was 1.1 billion shekels. (Omri Zerachovitz)