Israel's equity market finished narrowly in the green on Monday, with the benchmark TA 35 index up 0.10% at the close. Gains were concentrated in Insurance, Financials and Banking stocks, which contributed to the modest advance.
Top performers on the TA 35 included Tower Semiconductor Ltd (TASE:TSEM), which climbed 5.75% - a rise of 3,030.00 points - to finish at 55,770.00, marking a move to five-year highs. Menora Miv Hld (TASE:MMHD) added 4.19%, increasing by 1,980.00 points to close at 49,230.00. Harel (TASE:HARL) also traded higher, up 3.90% or 670.00 points to end the session at 17,860.00.
At the other end of the index, energy-linked and resource names weighed on the market. Delek Group (TASE:DLEKG) was the weakest name on the TA 35, plunging 8.47% or 10,110.00 points to close at 109,290.00. OPC Energy Ltd (TASE:OPCE) fell 6.04%, down 750.00 points to 11,660.00, while Navitas Petroleum LP Unit (TASE:NVPTp) declined 3.01% or 430.00 points to finish at 13,840.00.
Market breadth in Tel Aviv favored declines, with 327 stocks falling compared with 144 advancers; 80 issues finished unchanged.
Commodities and currencies
Commodity markets saw notable weakness during the session. Crude oil for May delivery lost 8.33%, a drop of 8.18, settling at $90.05 a barrel. Brent for June delivery fell 8.07% or 8.59 to $97.82 a barrel. Precious metals also eased, with the June Gold Futures contract down 3.86% or 177.90 to trade at $4,431.70 a troy ounce.
In foreign exchange trading, the US dollar weakened versus the shekel, with USD/ILS down 0.51% to 3.12. The euro also fell against the shekel, with EUR/ILS down 0.36% to 3.61. The US Dollar Index Futures was lower by 0.33%, trading at 99.13.
Implications for sectors
- Insurance, Financials and Banking sectors provided upward momentum for the TA 35 during the session.
- Energy and petroleum-related stocks were among the principal laggards, pressured in part by steep declines in crude benchmarks.
- Movements in the US dollar and precious metals added nuance to market performance across sectors exposed to commodity prices and currency fluctuations.
Overall, Monday's trading produced a small net gain for the TA 35 amid divergent sector performance and pronounced moves in commodities and FX markets.