Israel Stocks Rise, Energean Oil & Gas Leads Performance – Market Update

Summary

  • Israeli stocks experienced an increase after trading closed on Wednesday, driven by gains in several sectors.
  • The Tel Aviv index rose by 1.06%. Top performers included Energean Oil & Gas PLC, Shikun & Binui, and Shapir Engineering Industry.
  • Conversely, the session’s worst performers were Strauss Group, Nova, and Elbit Systems Ltd.
  • Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange.
  • Shares in Strauss Group fell to a 5-year low.
  • Crude oil and Brent oil both experienced a decline, while February Gold Futures increased.
  • The exchange rates of USD/ILS remained stable, whereas EUR/ILS saw an increase. The US Dollar Index Futures noticed a dip.

Stock Performance in Israel

Israeli stocks ended on a positive note on Wednesday, with gains in the , and sectors propelling shares upward.

As trading came to a close in Tel Aviv, the had grown by 1.06%.

Top and Bottom Performers

Outstanding performers during the session on the were Energean Oil & Gas PLC (TASE:), witnessing a 4.85% or 221.00 point jump, closing at 4,782.00. Also, Shikun & Binui (TASE:) saw an increase of 2.73% or 27.00 points, ending at 1,017.00 while Shapir Engineering Industry (TASE:) appreciated by 2.47% or 56.00 points to close at 2,320.00.

The session’s underperformers were Strauss Group (TASE:), which slipped by 0.82% or 57.00 points to close at 6,856.00. Nova (TASE:) dipped by 0.77% or 380.00 points to close at 48,920.00, and Elbit Systems Ltd (TASE:) slipped by 0.41% or 320.00 points to 76,980.00.

Stock Trends

In the Tel Aviv Stock Exchange, advantageous stocks surpassed declining ones by 292 to 187, while 60 maintained their stability.

Shares in Strauss Group (TASE:) experienced a 5-year low, depreciating by 0.82% or 57.00 points to 6,856.00.

Commodity Trading and Foreign Exchange

Crude oil for February delivery depreciated by 0.94% or 0.71 to $74.86 per barrel. In other commodities, Brent oil for March delivery fell by 0.71% or 0.57 to $80.28 per barrel. Concurrently, the February Gold Futures contract rose by 0.99% or 20.55 to trade at $2,090.35 per troy ounce.

Regarding currency exchange, there were no significant changes in USD/ILS at 0.01% standing at 3.62, while EUR/ILS saw an upsurge of 0.62% ending at 4.02.

The US Dollar Index Futures posted a decline of 0.47% to 100.63.

Market Impact

In conclusion, these market fluctuations provide potential opportunities for forex traders and asset holders who may adjust their strategies based on trends in commodities, currency exchange rates, and the overall performance of the Israeli stock market.

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