Green indices on the stock exchange; Tikun Olam jumps 24%

Ongoing reporting from the Tel Aviv Stock Exchange: the important updates, the prominent stocks, the bonds and the analysts’ updates

13:00 – Tikun Olam’s jump pushes Tel Aviv Cannabis by 3.8%, the greenest industry index today. Knashour is in second place in the index, far from the first, with an increase of 2.6%. The index closes with a decrease of 3.7%.

12:00 – Tikun Olam shares soared by 24% following its announcement of a cooperation agreement with Teva Israel from the Teva Group – Teva Israel will market Tikun Olam medical cannabis oils to patients in Israel and the Palestinian Authority, and in the future also in Ukraine, if the market for medical cannabis products opens.

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Cannabis World Repair Headquarters

10:45 – Properties and Building strengthens by 5.6% at the top of Tel Aviv 90, after the completion of the Gev Yam deal (see early update); Biogroup bonus weakens by 2.8% at the bottom of the index.

At the same time, the increases of the opening are strengthening – TA 125 on plus 0.5%.

10:00 – Trading opens, calmly: the Tel Aviv 35 Index is up 0.1%, the Tel Aviv 125 is up 0.2%; Ofko rises 3% at the top of Tel Aviv 35, Tower weakens 1% at the bottom of the index; Gev Yam strengthens 1.5% following the completion of the sale of Aharon Frenkel’s share in Properties and Building; Discount weakens 0.6% after the announcement of the new employment agreement In the Bank – Tel Aviv Banks decreases by 0.4%.

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Aaron Frenkel

(Photo: Wikipedia)

9:40 – Orbit acquires Euclid Systems Engineering for a total consideration of up to NIS 14 million; Euclid specializes in the development of positioners for the defense industries, which include precise, small and lightweight propulsion systems.

In addition, Isramco reported a dividend payment of NIS 110 million for tax purposes. Ratio reported paying a dividend for tax purposes of NIS 43 million and this morning Delek Drilling also announced a distribution. A private investor who does not submit an income tax form and owns Isramco, Ratio or Delek Drilling – will be deducted 100% tax on the dividend. “From the beginning of 2022, these partnerships will be taxed like a regular public company, so these are the last dividends for the purpose of paying tax from the holders of the participation units.”

Delek Drilling reported a dividend of NIS 268 million.

9:30 – Reit 1 exercises the option to purchase 75% of the Yishparo rights in the Yishparo Center in Modi’in, for NIS 281 million, less the remaining mortgage loan on the property.

9:15 – Discount Signed a new employment agreement with the employees For the next 5 years, which will include expanding managerial flexibility in employing permanent employees and providing a bonus of NIS 200 million to employees – the Bank will make a provision of NIS 150 million in the fourth quarter reports in favor of the bonuses.

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(Photo: Tomerico)

9:10 – Solgarin reported on entering storage operations in Germany in collaboration with the German company Tricera Energy for the development and establishment of energy storage projects in the country with the possibility of expansion to other European countries. The parties have set as their goal the construction of projects with an estimated investment of 500-300 million euros in the coming years.

At the same time, the company signed a memorandum of understanding for long-term strategic cooperation, with Amir Public Marketing and with P. Marom Project Services. According to the agreement, the companies will operate to initiate, build and operate solar systems on greenhouses and other agricultural buildings in the Israeli market.

7:15 – The Aluma Stock Exchange, which specializes in infrastructure investments, Conducts advanced contacts for the purchase of 50% of the shares of Gaz Yagel, A gas supplier operating in the south of the country. Calcalist reports that the company’s value in the deal is NIS 280 million, and if it is implemented, the company’s owners – Shlomo Avitan, who founded it 20 years ago – are expected to meet with up to NIS 140 million.

7:10 – Poalim Equity (the new name of Poalim Capital Markets), Bank Hapoalim’s real estate investment arm, Acquires 20% of the shares of Ram Holdings of the Nakash Brothers. Calcalist reported that Poalim Equity will invest NIS 150 million in a transaction that reflects Ram’s holdings worth NIS 750 million.

7:05 – Last night, businessman Aharon Frenkel sold all his holdings in the real estate company Gev Yam, 37.2%, to Properties and Building, for NIS 3.1 billion. This will increase Properties and Building from a 44.5% holding in Gev Yam to 81.7%.

Calcalist reported that eA transaction is made at a price of NIS 39 per share, Slightly above the price of the share in the market, which stands at NIS 38.3. Together with NIS 80 million in dividends he will receive in the coming months as part of the transaction, the price per share is NIS 40.5, 5% above the market price.

7:10 – The Tel Aviv Stock Exchange will enter the last trading week of 2021 this morning: at the close of Thursday, the local market will say goodbye to a turbulent year that also took place under an epidemic – this time when the shadow of inflation threatens the global economic recovery.

And despite the above and in the face of concerns about the way forward, the Tel Aviv 35 and 125 indices are expected to close a particularly successful year, both of which currently stand at a rally of around 30% since the beginning of the year.

In the international markets will enter tomorrow the partial trading week between Christmas and New Year celebrations – in London and Sydney there will be no trading on Monday-Tuesday due to Christmas and the day after. In Hong Kong there will be no trading on Monday, due to the holiday.

On Friday, the eve of the civil New Year, there will be no trade in Frankfurt, Madrid, Milan, Zurich and Tokyo; There will be shortened trade with early closing in London, Paris, Hong Kong and Sydney.

These are the arbitrage gaps with which the senior duals will return to the Tel Aviv Stock Exchange this morning: positive – Teva 0.4%, Perrigo 0.8%, Nice and Nova 0.1%, LivePerson 0.2%, ICL 0.7%, Ofco 3.5%; negative – negative gap Tower 1.6% – Ormat Tech 0.8% – Elbit Systems 0.7% ..

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Tel Aviv Stock Exchange

(Photo: Bloomberg)

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