Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
17:28
Trading on the Tel Aviv Stock Exchange closed in decline. The Tel Aviv 35 Index fell by 0.5%, as did the Tel Aviv 125 Index, Tel Aviv 90 retreated by 0.6%. The bank index fell by 2.2%, the foreign yield index lost 1.4%. On the other hand, on the green side of the map, oil and gas indices stood out, which rose by 0.9%, and the technology index, which rose by 0.2%.
The trading turnover amounted to approximately NIS 1.65 billion, when the workers Concentrate the highest turnover followed by nature which registered a decrease of 3.7% after the publication of the weak reports. productivity Dropped by 6% after the reports and the announcement of the appointment of Tal Jacobson as CEO to replace Doron Gerstel as of August 1st. Compared to them, Balta stood out Delek Group with a jump of 4.7%.
In the bond market, increases of 0.1% were recorded in the corporate Tel Bond indices, while the government Tel Gov shekel index fell by almost 0.2%. The long-term shekel bonds recorded decreases of 0.4% to 0.6% while the short-term bonds remained almost unchanged.
15:45
The gains in the stock market were erased and the TA 35 index also moved to a decrease of 0.2%, while the TA 90 decreased by 0.5%. The bank index was cut by 1.1%, the oil and gas index, on the other hand, jumped by 1.2%.
The trading turnover so far amounts to approximately 1 billion shekels, with the highest turnover being the Center Bankworking . Teva loses 2% after the reports in the third cycle in scope, Productivity Network Drops by 8% in high turnover as well.
Significant increases are recorded the father with a jump of 15%, Wilk which jumps to almost 8% andPeninsula which climbs by about 6%.
In foreign exchange, the representative dollar rate increased by 0.2% to NIS 3.48 and now the dollar continues to rise by another 0.2%. The euro is unchanged after the representative’s determination, which rose by 0.5% to NIS 3.73, the pound is also stable after the representative jumped in -1.1% to NIS 4.20.
14:24
A mixed trend in the stock market. The Tel Aviv 35 index climbs by about 0.1%, while the Tel Aviv 90 index went down by about 0.4%. The oil and gas index climbs by 1.3%, while the banks index retreats by about 0.5%.
company nature reported today that it ended 2022 with revenues of $14.9 billion, in the lower part of the lowered forecast range it set for itself in the previous quarter. In the fourth quarter, revenues totaled $3.9 billion, a 5.3% decrease compared to the corresponding quarter, and Non-GAAP net profit per share was 71 cents – the same as analysts’ forecasts.
13:15
company productivity reported today that its revenues last year grew by 34% compared to 2021 and amounted to 640.3 million dollars. Net profit in 2022 jumped 156% to $99.2 million. Net profit on a non-GAAP basis doubled to $119.8 million, about 19% of total revenue, compared to 13% of total revenue in 2021. Prion ended the fourth quarter with a 33% growth in revenue compared to the corresponding quarter to $209.7 million. The net profit in the fourth quarter jumped by 119% compared to the corresponding quarter to 38.7 million dollars. Net profit on a non-GAAP basis increased by 77% to $44.7 million. Perion’s operating cash flow in the fourth quarter increased by 32% and reached $38.2 million, and the cash fund and short-term deposits increased to $429.6 million at the end of the quarter.
Simultaneously with the publication of the reports, Prion updated that Tal Jacobson, the manager of the CodeFuel search division, was appointed CEO and will replace Doron Gerstel as of August 1. Jacobson is expected to take office after a 6-month transition period. Gerstel will continue in an active role as a board member.
12:11
The Tel Aviv 35 index climbs by about 0.2%, and the Tel Aviv 90 index rises by about 0.4%. The oil and gas index climbs by 1.1%, while the banks index retreats by about 0.5%.
Notable increases record, among other things, Delek Group , Mitronics , Wilk , Electra needs and regions.
proppedo Jumping by more than 50% after the company reported today revenues of NIS 840,000 in 2022 compared to NIS 119,000 in 2021. The net loss was about NIS 10 million, twice the loss recorded in 2021.
In the government bond market, the trend is mixed, and in the corporate market, the main Tel Bond indices are registering increases of about 0.1%.
11:05
Slight increases in the stock market: the Tel Aviv 35 index climbs by about 0.5%, and the Tel Aviv 90 index rises by about 0.6%. On the other hand, the bank index registers a slight decrease.
national , discount andworking record slight declines. Finance Minister Bezalel Smotrich plans to oblige the banks to pay interest on the positive current account balances. The more than half a trillion shekels that the Israeli public holds in their current accounts, on which the banks do not grant interest, are used as a free basis for granting loans to citizens and businesses. Now it seems that the Ministry of Finance intends to make the sources of financing that the public provides them more expensive for the banks.
10:05
The trading day on the stock market opened with gains. The Tel Aviv 35 index climbs by about 0.6%, and the Tel Aviv 90 index rises by about 0.7%.
Significant increases are recorded Regions , Summit G City, Energian , Liveperson , Big And Altschuller Shaham.
08:42
In the local foreign exchange market, the dollar weakened by about 0.2% and traded around NIS 3.466, while the euro strengthened by about 0.1% and traded around NIS 3.721.
07:45
5 things you should know before trading on the Tel Aviv Stock Exchange
1. The stock markets
Globes and Lucid Capital are launching the pulse index of the Israeli economy – an objective daily snapshot of the markets, which will be updated and published daily on the Globes website. Yesterday the basket of currencies strengthened against the shekel, but it is not a dramatic increase. “It seems that the fluctuation of the basket in relation to the local currency is converging to a certain point”, write Bluesid Capital. Another figure concerning stocks: a positive change in the Tel Aviv 125 index in relation to the technology-biased index (Nasdaq 100). The gap in favor of Tel Aviv comes in contrast to the negative trend that plagued the comparison index in recent weeks.
The trading day on the stock exchange is expected, apparently, to open with gains. This is after trading on the stock exchange ended with a mixed trend yesterday. The TA 35 index fell by 0.1%, while the TA 125 and TA 90 increased by about 0.2%. Among the sectoral indices, the foreign yield index stood out positively with an increase of 1.7%, and the oil and energy infrastructure indices also climbed slightly. The banks index fell by 0.3%, the communications index retreated by 1%. The turnover amounted to NIS 1.83 billion.
Wall Street ended a volatile day with nice gains last night, after the question-and-answer session with the participation of Fed Governor Jerome Powell (more on that later). The Nasdaq jumped 1.9%, the S&P 500 rose 1.3% and the Dow Jones advanced 0.8%. Bond yields also rose.
Asian stock markets are trading today in a mixed trend: the Nikkei index in Tokyo is down about 0.4%, while the Hang Seng index is climbing about 0.3% in Hong Kong. The Kospi is up about 1.4% and Shanghai is stable.
Trading in futures contracts on US stock market indices shows stability.
Most of the dual stocks returned from Wall Street with positive spreads so they are expected to rise today. nice about 2.2%, Nova 2% and Ormat with 1.5%. nature which will publish reports today at noon, returned with a positive margin of 2.1%.
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2. The bond markets
Last night in New York, the US government’s 10-year bond yield advanced by 4 points to 3.67% and the two-year bond yield increased by a point to 4.46%. Now there are slight decreases in yields to 3.65% and 4.42% respectively.
In the local bond market, the corporate Tel Bond indices remained unchanged and so did the government Tel Gov Shekel index. The trend in the government bond market was mixed with fluctuations ranging from decreases of 0.1% to increases of 0.2%.
3. Commodity and currency markets
In the commodities market, oil futures are now posting slight increases after yesterday’s sharp increases. The April contract for Brent oil traded around $83.7 per barrel; And the WTI crude oil contract is trading around $77.3 per barrel.
Gold traded with a slight increase to the level of 1,890 dollars.
In the global forex market, the dollar weakened slightly against the euro and traded around 1.073 dollars to the euro. The pound is also strengthening slightly and is trading around $1.205 per pound. The Japanese yen weakened by about 0.1% and traded around 131.2 yen to the dollar.
In the crypto arena, Bitcoin is trading in a slight increase around $23.2 thousand, and Ethereum also rises slightly to the level of $1,678.
4. Macro
As mentioned, the Chairman of the Federal Reserve, Jerome Powell, spoke yesterday (Tuesday) before the Economic Club of Washington about the economic outlook and monetary policy of the USA, in a conversation moderated by billionaire investor and philanthropist David Rubenstein. When asked about the next employment report, he said that “we don’t have the luxury of thinking about what is good and what is bad. It is what it is.” At the same time, Powell said the Fed does expect the labor market to soften. “Most economists would say that in order to lower inflation, we would need some softening of the labor market,” Powell said, but adds that this period was very different from the rest of history. “We expect significant progress in inflation this year, and again, it’s our job to produce it,” Powell said. He adds that the Fed may have to raise interest rates more than markets are pricing in if employment reports continue to be unexpectedly strong and inflation climbs.
Today, the consumer price index in Russia will be published, which is expected to stand at 11.5% at an annual rate, alongside an unemployment figure that is estimated to rise from 3.7% to 4%. The weekly oil inventory in the US will also be published.
On Thursday, the consumer price index in Germany will be published, which is expected to jump by 1.1% monthly, so that the annual inflation rate will rise back from 8.6% in December to 9.2% in January.
On Friday, China will publish the consumer price index, which according to forecasts rose by 0.3% in January, so the annual rate is expected to increase from 1.8% to 2.2%. In the UK, growth data will be published, and the forecasts are that on a quarterly level there was no change in GDP, but on a monthly level it decreased by 0.3%. On an annual level, growth will probably be cut from 1.9% to 0.4%.
5. Forecast
Rafi Gozlan, Chief Economist at the IBA Investment House, states in a review that he published that “in our estimation, the recovery that is evident in Europe and China, and the strength demonstrated by the labor market in the US, against the background of the improvement in financial conditions, are expected to lead the markets to re-price the probability of slipping into recession, and The least at a later date, and at the same time to price a higher inflation environment. Since the US bond market continues to price a significant deterioration in activity that will lead to an interest rate reduction in the last third of the year, we attribute a high probability to an upward pricing of the interest rate path and an increase in yields in the coming period.”
In the local aspect, Gozlan writes, “During the past week, the local market erased a significant part of the increase in the risk premium that was recorded a week before. It is possible that the local market estimates that against the background of the warnings that continue to arrive from the world regarding the negative consequences of the measures to weaken the judicial system and damage the separation of authorities, the prospect of the plan pass in its current form is quite low. Despite this, we estimate that more significant pressure will be required from the markets, in order to lead to a halt or a significant change of the plan. Examining the pricing in the local market shows that it is far from embodying a high risk premium, and we expect a step up in the perceived risk premium of the economy the local with a devaluation of the shekel and underperformance of the local bond and stock markets in the coming period.”