Tel Aviv Stocks Open Lower as Real Estate Sector Slump Drags Down TA-35
The Tel Aviv Stock Exchange opened lower as the TA-35 index dropped 0.5% and real estate stocks fell sharply by 1.8%. Amot Investments lowered its 2026 FFO forecast, while Israel Canada gained amid broader market corrections.
The Tel Aviv Stock Exchange opened with downward trends, extending losses recorded last week. Benchmark indices, including the TA-35, declined by 0.5%, driven largely by continued drops across real estate and construction sectors, with the dedicated real estate index sliding 1.8%.
Israel Canada gained 1.1%, bringing its market capitalization back above 5 billion shekels, trading at 11.59 shekels per share. The company seeks recovery following a post-merger market valuation drop from 7 billion shekels. Meanwhile, Canada Global rose 3.6%, and Tzelo Blue strengthened following an agreement with apartment buyers regarding the refund of index-linked payments.
On the negative side, Amot Investments dropped 4.2% following the release of its financial reports and a downward revision of its 2026 FFO forecast to a range of 780 to 790 million shekels, down from June projections of 790 to 800 million shekels. Oron Group shares plunged 7%, while Tzevaoy and Alony Alon-Hetz recorded losses of around 4.4%.
Despite today's dip, Oron Group remains a standout performer, with its stock surging 118% since the beginning of the year and its market cap reaching 2.158 billion shekels. Market analysts attribute the broader trading sentiment to Wall Street declines, ongoing political developments regarding coalition talks, and macroeconomic factors.
