After a delayed start, the Tel Aviv Stock Exchange opened this morning with steep falls, after yesterday’s surprise attack from the Gaza Strip on Israeli communities near the border that left more than 250 Israeli dead. The prime minister has warned that Israel faces a prolonged and difficult war.
The Tel Aviv 35 Index is down 4.63%, at 1,745.98 points. There have been steep falls in real estate stocks, and the Real Estate Index is down 6.37%. Bank Hapoalim leads trading, and is down 5.03%. Among other leading stocks, Bank Leumi is down; Delek Group is down 7.69%; and Nice Systems is down 2.89%. Teva, however, is up 2.40%. Barclays has given Teva an outperform rating with a price target of $14, which compares with a closing price of $9.42 on the New York Stock Exchange on Friday.
The Tel Aviv 35 Index is down 3.85%, at 1,760.12 points.
There have been steep falls in real estate stocks, and the Real Estate Index is down 6.57%. Harel Insurance is down 10.62%; Israel Corporation is down 10.54%; ISSTA is down 10.40%; Israel Land Development is down 9.95%; and Fattal Hotels is down 9.67%..
Apart from Teva, a notable advancer this morning is Camtek, which is up 1.88%..
Published by Globes, Israel business news - en.globes.co.il - on October 8, 2023.
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