Trading Review: Current Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
17:28
The declines in Tel Aviv intensified in the last hour of trading and the Tel Aviv 35 index closed down by 1.1%, Tel Aviv 90 retreated by 1.8% and the construction and real estate stock indices fell by 2% -2.7%. The trade turnover amounted to NIS 2.05 billion.
Notable declines were recorded by Big, ICC, Jensel , Electrion Epic Properties, Israel Company, Doral Energy And mega light.
Significant increases were recorded Hills Floristem, Sturgeon Drop , IceCure Medical andGeneration Capital .
16:35
Negative trend in the stock market. The TA 35 index falls by 0.8%, the TA 125 loses 1% and the TA 90 retreats by 1.6%. The trading turnover amounts to about NIS 1.6 billion.
Electra Real Estate is down 5%, ICL At 4.6%, Summit stands out with a decline of about 4% andBig At 4.5%.
14:35
The negative trend in Tel Aviv is strengthening and the Tel Aviv 35 index is down 0.5% while the Tel Aviv 90 index is losing over 1%. The trade turnover so far amounts to about NIS 1 billion.
The oil and gas index erased the entire rise recorded and is now trading down 0.1%. The banks index is trading stably, with Poalim climbing by 1% and balancing the declines of national , Discount andMizrahi Bank . The cannabis index loses about 1.5% when a sharp drop of 11% is recordedCannbotech and also Unibo Loses height. Real estate stocks are also losing ground, including Electra Real Estate, which is down about 5%. At the bottom of the Tel Aviv 35 index now stands a building Which falls by 3.8%, followed by Israel and ECL.
Impax Announced that it is expanding its agreement with the global PepsiCo Corporation to supply hundreds of thousands of electronic units for the smart drink bottles to be marketed by the corporation The company has received an order In the amount of about $ 318,000 for the first half of 2022, in addition For an order of $ 2.7 million that the company reported in March this year.
13:00
The declines in the stock market continue as the major stock indices fall by 0.3% to 0.7%. The oil and gas index is climbing by about 1%, banks are slowly giving in to market momentum and the banks index has reduced the rise. Working Is still trading up 0.7%. The trade turnover so far amounts to NIS 740 million.
● Mutual funds at the peak of redemptions of two years. And who actually raised hundreds of millions?
● The value bubble of Israeli cyber companies is exposed
Tel Aviv 35 is at the top of the flag index Shafir Engineering Which is up 2.4%, followed by Nice which is up 2%. At the bottom ICL andThe Israel Society Which fall by about 3% while Canon reduced the decline to 1.8%.
Contrary to the market trend, there have been significant increases toAerobotics Floristem, World Hills, Spring and Icecure. GDM Jumps 23% after reporting that the conditions for merging with Mia Dynamics have been met. The company was expected to be delisted in July but will be removed from the preservation list in light of the merger. The company appointed Yaniv Hebron as chairman of the board.
11:05
Trading on the stock exchange continues to take place in price declines. Tel Aviv 35 is down 0.3%, Tel Aviv 125 is down 0.4% and Tel Aviv 90 is down 0.6%. The only ones are green: the banks’ index is up 0.25% and the oil and gas index is up 0.7%.
Oil Exploration Partnership World Hills Jumps 10% in high trading turnover, two days after it reported that the fault in Meged 5 had been fixed and that it had begun operating operations in the well in an attempt to return production. More sharp rises record Floristem, Spring , golf andIcecure .
On the other hand, sharp declines are recorded Cardan N.V. Which loses 17.5%, Globe Exploration With a decline of 5.5% and Ormed and Liniag governing about 5%.
In the foreign exchange market, the shekel stabilized and traded without a significant change against the dollar, around NIS 3.34.
10:01
Trading on the stock exchange opened with slight declines, with the Tel Aviv 35 and 125 indices falling by 0.2% and the Tel Aviv 90 retreating by 0.3%. Among the industry indices, the banks and oil and gas indices are rising, the insurance index is down 0.7%.
At the top of the Tel Aviv 35 Nice indexTower While at the bottom of Canon, which lost 3%, against the background of Zim’s drop (held about 20%) last night on Wall Street (see update from this morning). At the top of Tel Aviv 90 Rada andFuel group At the bottom Novolog And revealed.
09:10
Do Reported that a request had been filed against it for approval of a class action lawsuit alleging air pollution nuisances caused by the company’s industrial operations, which operate in Ashkelon. “According to the applicant, the requested financial relief is not quantifiable and is estimated at an amount of not less than NIS 2.5 million,” the report said, “at this stage it is not possible to assess the chances of the application.”
Compugen Received a “buy” recommendation at a target price of $ 10 per share from Jeffries Investment House. Millennium Food-Tech Has invested another $ 1 million in Pitolon, a company that develops natural colors for the food industry. The partnership has already invested $ 1.8 million in the company as part of the round of funding. When the round is completed, Millennium will hold 11% of the company’s issued share capital.
07:40
5 things to know before opening a trade
1. Expect a mixed opening
The trading day in Tel Aviv will probably open with a mixed trend, in parallel with the trend on Asian stock exchanges. At 14:45 (Israel time), the European Central Bank’s interest rate decision will be published, and according to market forecasts, it will remain unchanged at zero.
Yesterday, the stock market closed positively. measure Tel Aviv 35 Added 0.35%, Tel Aviv-90 Climbed 0.7% and indexed Oil and gas Jumped 1.7%. The trade turnover amounted to NIS 1.5 billion.
In the foreign exchange market, the dollar strengthened against the major currencies. The dollar weakened by 0.3% to a rate of NIS 3.32 and the euro also fell by a similar rate to NIS 3.57. The British pound retreated by 0.4% and traded at a rate of NIS 4.17.
2. Red Evening on Wall Street
Last night there was a negative lock in New York. Major stock indices fell 0.7% -1.1% amid investors’ fears of a severe economic slowdown and even a recession. measure Dow Jones Decreased by 0.8%, index NASDAQ Shed 0.7% and indexed S&P 500 Decreased by more than 1%. Futures trades in the morning with stability or minimal declines.
Zim Last night it dipped close to 15% amid reports of a 36% drop in container imports to the US in the last two weeks, while at the same time a moderation in transport prices continues to register. canon Which holds about 20% of the shares of the Israeli shipping giant, lost ground in Tel Aviv yesterday and is expected to fall as a result today.
The yield on 10-year US government bonds rose last night by 6 basis points and this morning it is advancing another point to 3.4%.
3. Mixed gaps for duality
Most of the major dual stocks returned with negative arbitrage gaps, but the weighted gap of the Tel Aviv 35 Index was negative at a relatively low rate of 0.2%.
Ofco Health andNova With a negative gap of about 2.5% and also LivePerson , nature andICL Are expected to drop. Outside the Tel Aviv 35 index, it will stand out in a sharp decline Ormed Which opened a gap of 6% and also Wilifood , Intercure andGilat Will lose height.
In contrast, Floristem It is expected to jump in light of a high positive gap of 16%. The stock soared last night with the start of coverage on StockNews.com under the “Hold” recommendation. also Nice , Brainsway andRada Will win a back wind.
4. Mixed trend in Asia
Asian stock markets are trading in a mixed trend, when indexed Nike In Tokyo it is up 0.3% while in Hong Kong it is down The index At 0.2%. Also in Taiwan, South Korea, India and Australia the trend is negative this morning.
In China, declines in the range of 0.5% to 1.3% are recorded, although import and export data have been published that exceeded expectations, thanks to the country’s factories returning to routine after severe corona restrictions in April. While imports to the US fell as noted earlier, Chinese exports jumped 16.9% in May compared to last year, more than double the forecast and after rising by only 3.9% in April. Imports rose at an annual rate of 4.1%, above the expected 2% rise.
5. Oil prices soared
In the commodity market, the trend is relatively stable this morning, but this after crude oil prices jumped by about 3% last night. Brent oil contracts are currently trading at around $ 123.8 a barrel and US oil contracts at $ 122.2 a barrel.
Goldman Sachs estimated this week that the Brent price will average $ 140 a barrel between July and September – an increase of $ 20 compared to the previous forecast. According to the bank’s estimates, the average in the second half of the year will be $ 135 a barrel, an increase of $ 10 from the previous forecast.
Gold is stable at this time and the price per ounce is about $ 1,855. Bitcoin continues to shuffle around $ 30,000.