The main indices on the Tel Aviv Stock Exchange opened sharply lower this morning, against the background of Israel’s airstrikes on nuclear and other installations in Iran and barrages of Iranian missiles at northern and central Israel. The Tel Aviv 35 Index fell by 1.2%. The Tel Aviv Insurance and Financial Services Index fell by 2.8% and the Tel Aviv Banks5 Index fell 2.4%. The only sector to rise was the retail sector, with the Tel Aviv Retail Index up 0.3%.
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As the session has worn on, however, the falls have moderated. The Tel Aviv 35 Index is currently down just 0.39%. The BlueTech Global Index is almost flat. The Banks5 Index is down by less than 1%, and the Retail Index is now up 0.98%, with Israelis under instructions from the IDF Home Front Command to stay close to safe spaces stocking up on essential items.
Defense company Elbit Systems is up 5.21%. Bazan (Oil Refineries) is down 0.91%, after reporting damage to a pipeline in the Haifa Bay area from a missile hit. The company says that there were no casualties, and that the refinery continues to operate, although some of its installations have been shut down. El Al, grounded by the closure of Israel’s airspace, is down 6.27%.
On Friday, the representative shekel-dollar exchange rate was set 0.81% higher, at NIS 3.6/$, and the shekel-euro rate was set 0.21% higher, at NIS 4.1525/€.
The reading of the Consumer Price Index for May is due to be released by the Central Bureau of Statistics later today. Analysts’ estimates range from no change to a 0.1% rise, following the sharp rise in April. The rate of inflation in the twelve months to the end of April was 3.6%.
Published by Globes, Israel business news – en.globes.co.il – on June 15, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
