Mixed opening in Tel Aviv: dual-listed stocks decline, New York futures show gains
Yesterday, the stock exchange closed with a mixed trend: the TA-35 index fell by 0.3%, while the TA-90 index advanced by 0.7%. Arbitrage gaps in dual-listed stocks are expected to weigh on the TA-35 index by about 0.41% at the opening. The dollar exchange rate stands at around 3 shekels, and oil prices are recording slight declines.
Trading review: reports, trends, indices, stock prices, bonds, foreign exchange, commodities, and analyst recommendations. 8:40.
Bezeq Group is raising its forecast for 2026 following two strong quarters, growth in core business engines, and significant progress in strategy implementation. The comparative net profit forecast for shareholders is rising to 1.15-1.2 billion shekels (previously 1.0-1.1 billion), and the comparative EBITDA forecast is rising to 3.8-3.85 billion shekels (previously 3.7-3.8 billion). The increase is mainly due to expected improvements in business performance, particularly in wireline activity, alongside expense reductions. The investment forecast (CAPEX) remains unchanged at 1.6 billion shekels.
Stocks
The trading day is expected to open stably. Arbitrage gaps in dual-listed stocks are expected to weigh on the TA-35 index by about 0.41% at the opening. Palo Alto is expected to open with a negative gap of over 2%. In the chip sector, Tower and Camtek are returning with negative gaps of up to 1.7%.
Yesterday (Thursday), the stock exchange closed with a mixed trend. The TA-35 index fell by 0.3%, while the TA-90 index advanced by 0.7%. Gains were led by the Cleantech index (+2.4%) thanks to Doral Energy and Nofar Energy shares following their financial results. IDI shares also stood out, leading the TA-125 index. Conversely, the banking index fell by 1.3%, and finance and insurance indices declined by 0.8%.
Global Markets and Commodities
Wall Street futures are trading with slight gains this morning: the Dow Jones and S&P 500 are stable, and the Nasdaq is rising by 0.2%. In Asia, the Nikkei is falling by 0.5%, the Kospi is rising by 1.3%, and the Hang Seng is climbing by 0.7%.
In the US, the 30-year bond yield rose by 6 basis points to 5.25%, and the 10-year yield rose by 5 basis points to 4.7%. In the local bond market, a positive trend was recorded, with the 10-year bond yield declining by 5 basis points to 3.81%.
The dollar is weakening against the shekel, trading around the 3.00 shekel threshold. Oil prices are recording slight declines: American oil is at about 86 dollars per barrel, and Brent is at 92.3 dollars. Bitcoin rose by 8.2% to about 75,000 dollars, and Ether jumped by 5% to 2,350 dollars following US President Donald Trump's call for Congress to support the sector.
Macro and Forecasts
According to Bank of America, the Israeli economy is demonstrating resilience. Economic activity recovered strongly in Q2 2026, supported by private consumption and exports. The labor market remains tight (2.9% unemployment, 7% wage growth), with inflation at 1.5% in July. The bank expects the Bank of Israel to hold rates in September and cut by 25 basis points in November.
Jefferies maintains a "buy" rating for AppLovin with a target price of 550 dollars, despite recent downward trends. Next week, the Tel Aviv Stock Exchange will see reports from Tadhar, Fox, Shapir Engineering, Partner, and Amal Holdings. On Wall Street, Nvidia's report is the center of attention, alongside GDP data from the US and Germany.
