Fri: Main indices rise, Tower surges

Tower Semiconductor is up 80% for the year to date. Interest rate cut speculation lifted construction shares.

The main indices on the Tel Aviv Stock Exchange rose on Friday. The Tel Aviv 35 Index rose 1.15%, to 4,425.03 points; the Tel Aviv 125 Index rose 1.33%, to 4,371.32 points; and the BlueTech Global Index rose 1.94%, to 717.94 points. The TelBond 60 corporate bond index rose 0.19%, to 420.02 points. Turnover totaled NIS 2.47 billion in equities and NIS 2.00 billion in bonds.

The outstanding sector indices were the Tel Aviv Construction Index, which rose 3.23%, and the Tel Aviv Technology Index, which rose 2.51%. Construction shares were lifted by speculation that the Bank of Israel may make deeper interest rate cuts than previously estimated.

On the foreign exchange market, the representative shekel-US dollar exchange rate was set 0.10% lower, at NIS 2.9480/$, and the representative shekel euro rate was set 0.06% higher, at NIS 3.4594/€.

Phoenix Financial led trading on Friday, and rose 2.65%. Bank Hapoalim rose 0.01%; Bank Leumi rose 0.51%; Elbit Systems rose 0.47%; and Tower Semiconductor rose 6.52%.

Besides Tower Semiconductor, which has risen by 80% in the year to date, notable advancers were G City, up 6.35%; Shikun & Binui, up 6.09%; More Investment House, up 6.09%; and Acro, up 5.42%. Big Shopping Centers fell 2.55%l NewMed Energy fell 2.12%, and Mivne fell 1.89%.

Published by Globes, Israel business news - en.globes.co.il - on May 3, 2026.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.

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