Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
17:28
Trading on the stock exchange closed with gains. The Tel Aviv 35 index rose by 0.5%, while the Tel Aviv 90 index jumped by 2.4%, led by Isracard G City, Sapiens , Israel Canada andClal Insurance which all recorded sharp increases.
The oil and gas index jumped by 3.5% against the background of rising energy prices in the world, the insurance index also climbed by more than 3% and the foreign yield index jumped by 3.6% led by Norstar andG City , against the background of the massive injection of capital by the owner Haim Katzman (see previous update). On the negative side, the banks index fell by 0.3% and the cleantech index shed 0.4%, as did the biomed index.
The turnover amounted to NIS 1.73 billion, when nature which jumped 4% after positive progress in its settlement in the opioid case gathered the highest turnover by a wide margin from the second in line, the share ofworking which was closed without any real change.
In the bond market, the corporate Tel Bond indices recorded increases of 0.3%-0.5%, with bonds particularly prominent 11 and12 of Norstar whose price soared by double-digit rates following Katzman’s report in question. The Tel Gov Shkelly index rose by 0.4%, the long-term bonds rose by 0.8%-1.2%.
16:50
Haim Katzman, the controlling owner of the Norstar company, which owns the G City shopping center company, will invest NIS 90 million in the company and offers a proposal for full redemption of one of the two series of bonds, and a proposal for a voluntary replacement of the second series with a new series with a lien for G City shares.
The offer breathes positive life into the group’s securities: Norstar’s bonds soar in the stock market and their price climbs by 12% (11 ) and 18% (12 ). This jump in their price drops their yield to maturity to the level of 7.7% in the 11th bond (from a level of over 26%) and 16.8% in the 12th bond. stock Norstar jumps by 15% to a price that represents a value of over NIS 720 million. stock G City Increases by 12% to a market value of NIS 2.4 billion.
15:30
company nature confirmed today that in light of the level of participation on the part of the states in the USA, it is possible to advance the proposed nationwide settlement regarding the lawsuits related to the painkillers (Opioids). The company notes that Teva has already approved the participation of 48 of the 50 states, or reached agreements with them, and will continue to work to promote The accession of the remaining states. Now, the procedure for the accession of the subdistricts of the states will begin. “In light of the high response rate from the states in the US, the company is optimistic that the statewide arrangement will receive similar support from the subdistricts as well.” The stock climbs in response by about 4.5%.
14:10
The Tel Aviv 35 index is now up by 0.1%, and the Tel Aviv 90 index is climbing by about 1.5%. The oil and gas index jumps by 2.5% at the same time as sharp increases in oil contract trading in the world, and the insurance and financial services index jumps by 2.3%. The construction stock index stands out with an increase of about 2%. The trading turnover amounts to approximately NIS 720 million.
company aerodrome It was updated today that the volume of new orders from customers received by the company during the year 2022 amounts to approximately NIS 37 million (plus VAT) which are added to the company’s backlog. The fourth quarter amounted to receiving new orders from customers amounting to approximately NIS 17 million (plus VAT) “m”), an increase of about 180% compared to the corresponding quarter in 2021.
In the foreign exchange market, the dollar falls by about 1.8% compared to its representative rate and trades around 3.494 shekels, and the euro weakens by about 0.1% compared to the representative rate and trades around 3.732 shekels.
12:15
The increases in the stock market continue: the Tel Aviv 35 index is now up by 0.2%, and the Tel Aviv 90 index is climbing by about 1.5%. The oil and gas index jumps by 2.7% at the same time as sharp increases in oil contract trading in the world, and the insurance and financial services index jumps by 2.1%. The construction stock index stands out with an increase of about 2%. The trading turnover amounts to approximately NIS 405 million.
Notable increases are recorded among other things Regions , Uridis , Africa residence , Dania Sibus , Isramco , Demary , Beryl Ogwind and Nauy.
On the red side there are prominent declines Daniel , Shafir Engineering , Mehravia Holdings , Kenbotek , Norstar , Apollo Power andMove Power .
In the bond market, there is a mixed trend in the government bonds, and the main Tel Bond indices are rising at minimal rates. In the corporate market, Norstar’s 12th series continues the positive momentum and rises another 2.2%.
10:45
The Tel Aviv 35 index is now up by 0.1%, and the Tel Aviv 90 index is climbing by about 1.2%. The oil and gas index jumps by 2.7%, and the insurance and financial services index jumps by 2.1%.
company atm announced this morning that it received a significant order from a government body for a cyber security solution in the amount of 26 million dollars. Delivery of the order will begin this year and will last up to a maximum period of five years. This is an order from a long-time government security client of the group, for the supply of a fast cyber platform for networks that combines advanced equipment and software.
10:20
stock Isracard Jumps by 17% in a huge turnover, after Harel offered last night to purchase it for a sum of NIS 2.7 billion. This is a premium of about 30% compared to the value of the credit company before the opening of trading today.
10:02
The trading day in the stock market opened with a mixed trend. The Tel Aviv 35 index maintains stability, and the Tel Aviv 90 index rises by about 0.3%.
Delek Group increases by 2%, Regions by 2.3%. Other notable increases in Clal Insurance, Energian andElectra Real Estate .
company Medical discourse This morning reported the purchase of a plant for the packaging and production of medical cannabis products that holds the GMP-IMC standard and a company that operates a trading house for medical cannabis that holds the GDP-IMC standard for NIS 2.3 million. In the discussion it is noted that this purchase is in accordance with the company’s strategy to expand its activities to additional links in the value chain, streamlining the supply chain and creating vertical synergy between the company’s activities. The factory and trading house operate in the field of cannabis today and are located in the Sharon area on land that is under long-term lease from a third party. According to the company’s estimation, the production capacity (packing flowers) at the factory can reach about 800 kg per month, and as additional shifts are employed, even 1.5 tons per month. The production capacity without additional shifts meets the needs of the company and is even higher than that.
09:45
Bank national Announcing today a series of appointments of senior managers in the bank’s management and in the management of the banking division: Liat Shub, head of the risk management division, photo for the head of the business division in place of Ronan Agassi, who is finishing his position and will be appointed CEO of Migdal Insurance. Ronan Mori, head of senior management and deputy head The banking division, will be appointed head of the risk management division in Liat Shub’s place. Zoharit Yogev, head of credit and risk management in the banking division, photo to the head of senior private clients in the banking division in place of Ronan Mori. Attorney Shelly Beinhorn, currently secretary of the Bezeq Group, photo to the secretary the bank.
08:40
In the foreign exchange market, the trading week opened with the dollar trading around NIS 3.509, a decrease of 1.3% against the representative, but a slight increase compared to its closing level on Friday. The euro strengthened by about 0.3% compared to the stable rate and traded around NIS 3.747.
The representative rate of the dollar was set on Friday at 3.55 shekels after the American currency strengthened by about 0.8% against the shekel, but then the dollar changed direction and fell against the basket of currencies by more than 1%, and about 1.4% against the shekel.
07:40
5 things you should know before trading on the Tel Aviv Stock Exchange
1. The stock markets
The trading day in the stock market is likely to open with slight gains. This is after yesterday trading on the stock exchange was closed with price increases. TA 35 added 1.2%, and TA 90 jumped 1.7%. The foreign yield index which jumped by 4.5% as well as the real estate index which rose by 2.8% stood out in particular. The bank index stood out in the red contrary to the trend and recorded a decrease of 0.8%. The trading turnover amounted to approximately NIS 640 million.
Asian stock markets are trading in a positive trend today, led by the Kospi index in Seoul, which jumps by about 2.5%. In Tokyo, the Nikkei index rises by about 0.6%, and in Hong Kong, the Hang Seng climbs by 1.6%.
Slight increases are recorded in futures trading on US stock market indices.
And with us, the insurance company Harel Offers to purchase 100% of shares Isracard For a sum of NIS 2.7 billion. This is a premium of about 30% in relation to the current value of the credit company. Harel’s announcement to the stock exchange states, among other things, that “the company’s proposal to the Israchart board of directors is limited to two weeks, and as long as its proposal is accepted, it was proposed that a memorandum of understanding be signed between the parties to anchor the parties’ agreements.”
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2. The bond markets
Trading in US government bonds is now stable. The yield on the 10-year bond is around 3.56%, and the yield on the two-year bond is around 4.26%.
In Tel Aviv yesterday, the central Tel Bond indices recorded increases of about 0.5%, as did the Tel-Gov Shekel index, with sharper increases recorded among the long-term shekel government bonds, which recorded increases of 1.1% to 1.3%.
In the corporate sector, real estate companies’ bonds stood out, especially Norstar’s 12th bonds with a jump of more than 5%.
3. The commodity and currency markets
In the commodity market, oil contract prices are now rising by 1.1%-1.2%. The March contract for Brent oil is trading around the level of $79.4 per barrel, and the WTI oil contract is rising to $74.6.
Gold continues to climb and rises by about 0.6% to the level of $1,880 per ounce.
In the global forex market, the dollar continues to lose ground. The euro strengthens by about 0.3% to the level of 1.068 dollars per euro, the pound rises by about 0.4% and trades around 1.214 dollars per pound. The Japanese yen strengthens by about 0.3% and trades around 131.7 yen to the dollar.
In the crypto market, the trend is positive: Bitcoin climbs by 1.6% and trades around $17,200, and Ethereum rises by 3.3% around $1,310.
4. Macro
No important macro data is expected to be published today. In the Eurozone, the unemployment rate will be published, which is expected to be 6.5% in December.
Federal Reserve Chairman Jerome Powell is expected to give a speech tomorrow (Tuesday) before the opening of trading in New York, and his words will probably attract a lot of interest.
On Thursday, the consumer price index in the US for the month of December will be published (at 15:30 Israel time), which is expected to register an increase of 0.1% in the month and an increase of 6.7% in the whole of 2022. The core index is expected to increase by 0.3% in December and 5.9% in the year the whole
5. Forecast
And finally, Bank Hapoalim economists note in their weekly review that the price indices for the coming months will be affected by the government’s measures: the taxes on sugary drinks and disposable utensils have been canceled, and these are expected to affect the price indices for the months of January and February. The Treasury is examining the increase in the prices of electricity, water and property tax, and it is possible that we will see more moderate price increases (mainly in electricity). “The government’s measures may reduce the price index forecast for the month of January, but on an annual basis, the government’s ability to influence inflation through taxes has decreased. Inflation will be mainly affected by the wage agreements in the economy. We leave the inflation forecast for the coming year at the level of 3.0%.”
Regarding the Bank of Israel’s policy, they note that “the recent interest rate hikes have so far not moderated the demand in the economy significantly, as could be expected, and therefore the high interest rate is expected to remain with us for a long time. The Bank of Israel has reduced the growth forecast for this year to a rate of 2.7%, and is I estimate that the budget deficit will rise to 1.8% of GDP. We expect an interest rate of 4.0% in the next decision in February, and a certain chance that we will also see an interest rate of 4.25% later this year.”