Israel Stocks Close Higher as Various Sectors Lead Gains
Shares in Israel’s stock market closed higher on Monday, driven by gains in several sectors. The benchmark index in Tel Aviv rose by 1.24% at the end of trading.
Among the top performers of the session was Teva Pharmaceutical Industries Ltd, which saw a notable 5.99% increase, reaching 4,692.00 at the close. Azrieli Group Ltd also showed strength, adding 3.55% to end at 24,210.00, while Tower Semiconductor Ltd was up 3.17% to 11,070.00 in late trade.
Unfortunately, not all companies experienced positive movements during the session. Nova, for instance, fell by 1.45%, trading at 57,820.00 at the close. Elbit Systems Ltd declined by 0.83%, ending at 74,500.00, and Energean Oil & Gas PLC was down 0.77% at 4,485.00.
It is worth noting that the number of rising stocks outpaced the number of declining ones on the Tel Aviv Stock Exchange, with 290 to 160, while 85 remained unchanged.
One standout from the session was Teva Pharmaceutical Industries Ltd, which reached a three-year high, gaining 5.99% to reach 4,692.00.
Turning to the commodities market, crude oil for March delivery experienced a slight decrease of 0.30%, reaching $76.61 per barrel. Meanwhile, Brent oil for delivery in April fell by 0.57% to $81.72 per barrel. The April Gold Futures contract also declined by 0.63%, settling at $2,025.95 per troy ounce.
In terms of currency exchange rates, the USD/ILS pair fell by 0.25% to 3.66, while EUR/ILS dipped by 0.40% to 3.94. The US Dollar Index Futures, on the other hand, showed a slight increase of 0.09%, reaching 104.09.
Overall, Israel’s stock market performed positively on Monday, with various sectors contributing to the gains.
Analyst comment
Positive news: Israel’s stock market closed higher, with the benchmark index rising by 1.24%. Several sectors, including Teva Pharmaceutical Industries Ltd and Azrieli Group Ltd, performed well. The number of rising stocks outnumbered declining stocks. Teva Pharmaceutical reached a three-year high.
Analyst prediction: The market is expected to continue its positive trajectory in the near future, with potential for further gains in various sectors.
