Globes

Sales of supermarket chain Shufersal (TASE: SAE), run by its controlling shareholders brothers Yossi and Shlomi Amir, continue to be weak. The company reported revenue of NIS 3.4 billion for the second quarter, down 7.5% in comparison with the second quarter of 2025. Net profit fell 34% to NIS 125 million. For the first half year, revenue was NIS 7.1 billion, down 1.6% in comparison with the corresponding period of 2025, while profit was down 14% at NIS 299 million.

Building materials and income producing real estate company Ackerstein Group (TASE: ACKR) suffered in the second quarter from a decline in activity of its customers alongside a jump in haulage costs, leading to an 86% slump in net profit. Together with the release of its second quarter financials, the company announced that its CEO Amit Lang was stepping down less than a year after he was appointed.

The main indices on the Tel Aviv Stock Exchange rose today. The Tel Aviv 35 Index rose 1.17%, to 4,193.68 points; the Tel Aviv 125 Index rose 1.27%, to 4,094.17 points; and the BlueTech Global Index rose 1.51%, to 630.51 points. The TelBond 60 corporate bond index rose 0.03%, to 428.97 points. Turnover totaled NIS 2.96 billion in equities and NIS 7.77 billion in bonds.

Income producing real estate company Vitania (TASE: VTNA), controlled by the family of vehicle importing and shipping magnate Rami Ungar, has reported that it is in negotiations to buy the rights of high-tech entrepreneur Benny Landa (50%) in stage one of an income-producing asset that Vitania is constructing in Ness Ziona. If the deal goes ahead, Vitania will post an NIS 18 million expense for purchase tax and an accounting loss of NIS 50 million.

Egged Group and Belilios Group’s Auto Chen Mobility today announced the formation of a joint venture to import, market and sell buses with Chinese transport giant CRRC. Egged says, the move is intended to build a full and long-term operation in Israel around CRRC products while working with the manufacturer to develop other markets and activities in European countries.

Volkswagen CEO Oliver Blume held meetings this week at the company’s plants around the country to present streamlining plans to workers and unions and discuss the cuts needed to overcome the German carmaker’s financial troubles. As passed of these meetings he confirmed for the first time that Volkswagen is in talks to save the factory in Osnabruck by using the plant for military production.

Israel-Cyprus-Greece power grid connection gets US backing VW CEO confirms Iron Dome production talks The US chip giant no longer reports separate revenue for its networking division, based on the Mellanox acquisition, but CFO Colette Cress revealed the latest figures in the investor call. In recent years Nvidia has detailed in its reports how revenue is divided between several of its product lines.

One of the biggest concerns during any escalation with Iran is damage to critical infrastructure in general and energy assets in particular. Consequently, Israel has been working in recent years to promote the interconnector project to link up its electricity grid to Cyprus and Greece and from there to the rest of mainland Europe.

Delek Group (TASE: DELKG) UK energy exploration and production unit Ithaca Energy (LSE: ITH), controlled by Yitzhak Tshuva, will join the London Stock Exchange’s (LSE) flagship FTSE 100 Index in the September reshuffle. It is one of very few Israeli-owned companies which has ever entered that London Stock Exchange’s leading index. The company has a market cap of £4.5 billion (about NIS 18 billion), after rising more than 60% since the start of 2026.

The second quarter 2026 reporting season is almost over and residential development and construction companies are beginning to demonstrate recovery in sales in their results. On the surface, some companies have seen an increase in the pace of deals, but the question arises as to whether this is a real change in trend.