Delek Group (TASE: DELKG) UK energy exploration and production unit Ithaca Energy (LSE: ITH), controlled by Yitzhak Tshuva, will join the London Stock Exchange’s (LSE) flagship FTSE 100 Index in the September reshuffle. It is one of very few Israeli-owned companies which has ever entered that London Stock Exchange’s leading index. The company has a market cap of £4.5 billion (about NIS 18 billion), after rising more than 60% since the start of 2026.
How much is it worth to enter the index and the analyst who sees sharp gains
Since a low point in 2024, Ithaca's stock has jumped 181%. Ithaca held its IPO on the LSE in November 2022 at a valuation of £2.5 billion. The flotation was based on a offer to sell by the Delek Group to investors. Now, entering the FTSE 100 may give the stock an additional push. Entry into the index will boost demand for the stock by about 2% - worth about £90 million - through Exchange Traded Funds (ETFs).
Entering the index will also likely lead to more tradability in the stock and more interest in it, also from other analysts. As of today, one of the banks covering the stock is Jefferies, whose analyst Mark Wilson has issued a "buy" recommendation with a price target of 350 pence, a 29.6% premium on the current price in London.
After the financial results published last week, Wilson wrote that the results are strong with record production (a trend that continues in the current quarter), an increase in the dividend and a reduction in net debt. According to the analyst, the key statement in the company's conference call was made by chairman Yaniv Friedman, who said that there are currently four major players in the region and that this will likely continue in the future.
Published by Globes, Israel business news - en.globes.co.il - on August 27, 2026.
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