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Israeli Stocks Reach Record High as TA 35 Reaches New Peak
Israel’s stock market was up at the close on Sunday, thanks to strong performances by communications, technology, and biotechnology stocks. The leading TA 35 index increased 0.45% to reach a fresh all-time high, reflecting solid investor confidence.
The main gainers of the day included Tower Semiconductor Ltd (TASE:TSEM), which leaped 2.67% or 720 points to stand at 27,650, its peak over the last five years; Energean Oil & Gas PLC (TASE:ENOG) 1.80% to 4,194; and Newmed Energy LP (TASE:NWMDp) 1.61% at 1,700.
On the downside, Israel Corp (TASE:ILCO) slid 1.03% to 114,500, and was the session’s biggest loser. First International Bank of Israel Ltd (TASE:FIBI) tumbled 0.89% to 23,290, while Menora Mivtachim Holdings (TASE:MMHD) fell 0.89% to 32,310.
Overall, market sentiment remained positive. Market breadth was strong as 289 stocks moved up, 179 ended lower, and 76 were unchanged on the Tel Aviv Stock Exchange.
On the commodities market, crude oil for December delivery was up 0.68% at $60.98 per barrel, while Brent oil for January delivery also gained 0.62% at $64.77. Meanwhile, gold futures for December were 0.49% lower at $4,013.30 per troy ounce.
The US dollar was up marginally against the Israeli shekel, with USD/ILS rising 0.12% at 3.26, while EUR/ILS was down 0.14% at 3.76. The US Dollar Index Futures were up, rising 0.28% at 99.63.
The session once again underlined investors’ optimism in the technology and energy industries of Israel, helping push the market to record levels despite minor losses in selected blue-chip stocks.