Delek stock rises 1.06 percent while Ithaca enters positive rating watch

Published on 10/08/2026 at 09:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Delek Group stock is tied to Ithaca Energy, where Fitch placed its BB- rating on positive watch on October 8, 2026. Q2 revenue reached ILS 4.4 billion.

Delek, IL0010841281, Illustration mit AI erstellt.

Delek Group (ISIN IL0010841281) was last at ILA 8,102 on the Tel Aviv Stock Exchange on October 8, 2026 at 10:35 a.m. IDT, up 1.06 percent. The latest company-linked development is Ithaca Energy's positive rating watch from Fitch, announced on October 8, 2026.

Ithaca enters positive rating watch

According to TradingView on October 8, 2026, Fitch placed Ithaca Energy's BB- long-term issuer default rating on Rating Watch Positive. The action followed Ithaca's strategic acquisition of offshore Canadian assets and cited greater scale, geographic diversification and exposure to a more favorable fiscal regime.

Moody's reaffirmed Ithaca's Ba3 corporate rating in the same October 8, 2026 announcement, giving Delek investors two distinct rating signals around a major subsidiary. The Fitch action concerns Ithaca directly, while Delek's share price provides the market-level reference for the parent company.

Q2 shows revenue and cash returns

Delek Group reported Q2 2026 group revenue of ILS 4.4 billion and net profit attributable to shareholders of ILS 314 million. The company also reported ILS 500 million in dividends paid during the quarter.

Operating scale stood at 96,000 barrels of oil equivalent per day in average combined production from Ithaca and NewMed during Q2 2026, according to Delek Group. For investors, the combination of production, earnings and distributions makes the rating action relevant beyond Ithaca's standalone credit profile.

Stock remains below yearly high

At ILA 8,102, Delek stock stood 33.47 percent below its 52-week high of ILA 12,177 and above its 52-week low of ILA 7,424 on October 8, 2026. Trading volume reached 62,525 shares, while the company's market capitalization was ILS 14.7 billion as of October 7, 2026.

Delek stock gains 1.06 percent

Delek stock was last at ILA 8,102 on the TASE on October 8, 2026 at 10:35 a.m. IDT, with a daily gain of 1.06 percent. The price, the 52-week distance and the Q2 figures frame the immediate investor debate around Ithaca's expansion and the credit benefit signaled by Fitch.