Trading Review: Current Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
15:50
Mixed stock market lock. The TA 35 index closed down 0.14% and the TA 90 climbed 0.2%. The oil and gas index rose by 3.8%. The trading turnover amounted to NIS 967 million.
In the bond market, there was a decrease of 1.1% -1% in the long-term shekel government and of 0.5% in the main Tel Bond indices.
Notable increases were recorded by the Delek Group, Energian, IceCure, Top Gam, Apollo Power, Ferion, Shafir, Nakes and Isramco.
15:00
partnership An Israeli opportunity Continues to jump by about 28% in higher-than-normal trading turnover. In the background, Energy Minister Karin Elharar announced that companies holding the Cypriot share of the Aphrodite-Yishai gas reservoir (including Delek and Chevron) and companies holding the Israeli side (including Opportunity and Nammax) have a one-month deadline to reach an agreement on compensation to the Israeli side of the reservoir. Its rights and assets in the common database of states. If not, the negotiations will be conducted again between the countries.
14:30
The declines in the stock market are deepening. TA 35 and 125 are still down 0.1% but TA 90 is down about 0.3%. The rise in the banks index has been reduced to 0.1%, and the oil index is still rising by 3.3%. The trade turnover so far amounts to about NIS 750 million.
The bond market is down 0.8% -1% in long-term shekel government and 0.3% -0.4% in the main Tel Bond indices.
Podtech Company Wilk (Formerly Biomilk) has received U.S. patent approval for cell culture methods and systems in cell culture. It is registered as the sole holder of a civilized milk and breast milk production patent by the United States Patent and Trademark Office. The stock is soaring.
13:10
Unstable in the stock market. The TA 35 index has again fallen to a slight decrease of 0.1%, TA 125 and 90 are trading around the opening level or at minimal declines. The banks index rose by 0.5%, and the oil index rose above 3%. On the other hand, the real estate index sheds 1%. The trading turnover amounts to about NIS 500 million.
Protelix Bounces 22% in light of positive arbitrage, partnership An Israeli opportunity Jumps above 18%, and Apollo, Sturgeon Drop, Razor and Delek Group continue to climb due to their reports (see previous updates). On the downside, Yuzrawi Decreases by 6%, atm by 5.3%, Energy andAugwind At 4%.
Israel Canada Announced that a request for approval of a class action by a shareholder holding Norstar shares against the company and Haim Katzman, the controlling shareholder in Norstar. According to the applicant, its contract with the Katzman Group constitutes a “joint holding” in the controlling shares in Norstar, which controls Gazit Globe. The applicant further argued that the company should have purchased shares by way of a takeover bid.
12:25
Again, slight increases in the Tel Aviv indices, with the three largest indices adding about 0.1%. The banks index is up about 0.6%, the oil index at 3.2%. The trading turnover so far amounts to about NIS 380 million.
At the top of the Tel Aviv 35 index is LivePerson Which is up 1.9% (having already mimicked over 24% since the beginning of the year) and at the bottom of the index Energix andMelisron Which decrease by about 1.5%. Tel Aviv 90 is led Apollo Power Which jumps more than 11% andFuel group Which jumps 7.1%, and at the bottom Batm Which sheds 6%.
Oil Partnership Navits Announced that it had successfully completed the third development drilling at the Baxkin North Reservoir in the Gulf of Mexico. An initial analysis of the data collected in the drilling shows that the thickness of the reservoir layers is consistent with the estimates. Completion work for the production of the well is expected to begin in the third quarter.
The digital assets company Tectona Climber after announcing the launch of its NFT creation platform using artificial intelligence, offering 10,000 NFT creations for sale.
11:00
The stock market has moved to a mixed trend. The TA 35 index erased the increase it recorded and traded down 0.1%. TA 90 rose 0.1%, TA 125 stable. The oil index continues to fly above 3%, the banks index rises 0.5% while the indices Insurance and communications are losing 0.3%.
Batam continues to lose height after plunging 11.5% on Thursday following its removal from the Potsey indices on the London Stock Exchange. Diplomat, Argo and Epic Properties are also losing ground.
Sturgeon Drop Leaps after signing an agreement with the US Department of Energy (DOE) for the use of patented energy storage technology. The company’s development complements the technology funded by the DOE and will allow it to penetrate the US market.
Nakes Announced that it had submitted to the US Securities and Exchange Commission (SEC) an unpublished draft document for listing its shares for trading in the US. Micronet Reported a framework agreement with a telematics service provider from North America, for the commercial supply of the company’s smart camera product.
10:01
The trading week on the stock exchange opened in a positive atmosphere, with increases of 0.4% -0.3% in the leading indices. The banks index adds 0.6%, the oil and gas index jumps 2.7% against the background of rising oil prices over the weekend.
OPC Energy Announced that it is preparing to expand its activities in Israel: Veins Cash flow of NIS 425 million and its share (20%) in the Rotem power plant in exchange for 20% of the shares of a new company that will concentrate Office’s electricity operations in Israel. The transaction is carried out at an estimated value of NIS 4.5 billion for Rotem’s activities, with the value of the new company after the transaction being NIS 6.6 billion.
Razor Leaps after announcing that it has received orders to expand the feasibility study of its artificial intelligence product on cooling systems at a power plant in Israel operated by a large energy corporation. These are orders with a financial volume of 60,000 euros.
Fuel group It reported that its subsidiary Ithaca completed over the weekend the deal to buy the full stake in Japanese oil and gas Rubni, which operates in the North Sea, for about $ 140 million. Afcon Holdings Announced that a subsidiary owned by it won the procedure to build a skeleton for a government body for NIS 230 million. Infrastructure and energy group Pomegranate Called in the memorandum of understanding to purchase a Spanish company engaged in the field of repression and tunneling (land and sea) for about 67.5 million euros.
09:25
Apollo Power Announced that its joint project with Audi has been selected as one of the three finalists for the prestigious Innovation Award in the Composites Industry at the JEC Group Exhibition. The ceremony will take place on April 26 in Paris, during which the solar roof developed as part of the project will be unveiled for the first time.
flash Is considering giving up the merger between Bezeq International and yes: Globes has learned that the group is considering this in light of the expected changes in the market and the frustration of not reaching an understanding with the employees.
07:50
5 things to know before opening a trade
1. Expect a positive opening
Trading week on the Tel Aviv Stock Exchange will probably open in a positive trend, after the gains recorded on Friday on the US stock exchanges that managed to balance the sharp declines from Thursday (see below).
The TA 35 index ended last week with an increase of 0.7%, TA 125 strengthened by 0.9%. At the top of the Tel Aviv industry indices Family At the top with a jump of 5.5% and at the bottom of the indexBanks Which fell 2.8%. As part of the update of the semi-annual indices, canon Perrigo took the place of the Tel Aviv 35 Index.
The dollar continued to strengthen by 0.3% against the shekel on Friday and closed at NIS 3,207. The euro strengthened by 0.1% to a level of NIS 3.672, the pound remained stable against the shekel and its exchange rate closed at NIS 4.34.
2. A roller coaster on Wall Street sponsored by tech giants
Trading on Wall Street last Thursday closed down declining after the technology and social media giant, Meta (Facebook) , Fell 26% due to disappointing reports. The company parted ways with more than $ 250 billion in its market value – the largest daily decline in history in financial terms (the previous record belongs toDark Which shed $ 180 billion on September 3, 2020). The significant decline dragged the market down: the Dow Jones lost 1.4%, the S&P 500 fell 2.4% and the Nasdaq plunged 3.7%.
On Friday, however, strong reports from US retail monster Amazon led to a 13.5% jump inshare – which added no less than $ 190 billion to its market value, the biggest daily jump. The company jumped the Nasdaq by 1.6%, the S&P 500 rose by 0.5% and the Dow Jones closed similarly to the opening level. On a weekly average, the Nasdaq rose by 3%, the Dow and S&P by 1% and 2%. % Respectively.
On Friday, an employment report was also published, which far exceeded expectations, with an addition of 467,000 jobs. Government bond yields soared: the yield on the two-year bond rose from 1.20% to 1.31%. To mention (compared to only 0.74% at the beginning of the year) and the yield on the 10-year bond rose by 8 basis points to 1.91% (an increase of 40 basis points exactly from the beginning of the year).
3. Positive gaps for duality
The positive trend in the markets on Friday helped most of the duality to erase negative arbitrage gaps that opened on Thursday, and the weighted arbitrage on Tel Aviv 35 positive by 0.1%.
Ofco Health andOrmat Will strengthen today in light of gaps of 2%, LivePerson With 1.7%. Outside the index stands out Protelix With a huge gap of 20%, Floristem With 6% andProductivity Network With 3.8%. On the other hand, Elbit Systems With a negative gap of 0.8%.
Meanwhile, the reporting season is approaching Tel Aviv with dripping reports of duality. Productivity will be reported this week, Rada , ICL andnature .
4. Oil prices are at their peak
Crude oil prices climbed in the last three trading days of the week, with Brent prices rising to $ 92.8 a barrel and US oil (WTI) soaring to $ 91.9 a barrel – a particularly alarming record of more than seven years. This is a jump of about 20% in prices since the beginning of the year and of close to 60% within 12 months.
Morgan Stanley estimates that by the middle of the year, the price of a barrel will rise to $ 100.
5. Cryptocurrencies have also joined the positive trend
The virtual currencies continue to mimic the market, joining the beautiful gains in the markets on Friday – and since this is a market that operates 24/7 they continued to climb slightly even yesterday.
Bitcoin has soared more than 11% these days and its price now stands at about $ 41.5 thousand – a two-week high – but it is still 13% lower than its level at the beginning of the year. Heather also rose at a similar rate over the weekend and once again crossed the $ 3,000 threshold per unit.