Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
17:28
Trading in Tel Aviv ended with limited price increases compared to those recorded during the day. Tel Aviv 35 rose by only 0.1%, Tel Aviv 125 added 0.3% and Tel Aviv 90 rose by 0.7%. The biomed index jumped by 2%, the real estate index jumped by 0.8% and the construction index by 1.5%, the foreign yield index strengthened by 2.3%. On the negative side, the oil and gas index fell by 0.4% and the energy infrastructure index shed 0.5%.
The turnover amounted to NIS 2.43 billion, working gathered the highest turnover (over NIS 157 million).
Particularly noticeable increases were recorded Kenbotek which jumped by 32%, Goto which increased by 24% as well Move Power , aura Protlix, Wishor, Ormed and G City recorded sharp increases.
In foreign exchange, the dollar strengthened by about 0.5% and its rate rose to 3.53 shekels, while the euro weakened against the shekel by 0.3% to a level of 3.74 shekels. Globally, the euro retreated by 0.8% against its American counterpart to a rate of 1.05 dollars.
16:35
The gains in the stock market continue. The TA 35 index advances by 0.8%, the TA 125 rises by 1% and the TA 90 jumps by 1.5%. Among the industry indexes, the banking index adds 0.6%, the construction stocks index jumps by 2% and the yield index abroad by 2.8%. The oil index traded without any real change.
The trading turnover is high and amounts to NIS 1.9 billion so far, as usual the highest turnovers are concentrated by the banks – Hapoalim, Leumi, Discount and Mizrachi Tefahot. The Fox share, which jumps by 5.5%, also concentrates a relatively high turnover, as does Shikhon and Binui, which increases by 5%.
14:48
Delek Group It was updated today that the Ithaca company, the activity arm of the Delek Group in the North Sea, announced today (Tuesday) significant signs of petroleum in drilling at the Isabella oil property in the North Sea, and a decision to conduct exploratory drilling at the K2 oil property, in the center of the North Sea. The Isabella oil property includes a geological structure that covers an area of approximately 72 square kilometers. The drilling that was carried out is at a depth of 4,502 meters for a target layer with a thickness of approximately 45 meters. The operator now intends to evaluate the data, in order to establish the existence of a commercial potential for production and conducting tests future production.
The cost of the drilling amounted to about 67 million pounds, where Ithaca’s share is about 6.7 million pounds. According to the best estimate, the Isabella oil property has C2 contingent resources of approximately 49.3 million barrels of oil (MMBBL) and approximately 98.6 BCF of natural gas. The property is held by Ithaca (10%), the Total Energy Company, which serves as the drilling operator (30%), and other partners.
14:05
The gains in the stock market are weakening. The Tel Aviv 35 index climbs by about 0.4% and the Tel Aviv 90 index rises by about 1.4%. The biomed index jumps by 3%, the foreign yield index stands out with an increase of about 2%. The trading turnover amounts to about NIS 770 million.
Sharp increases have now been recorded, among other things, Fox aura, mega light , Acro , Migdal Insurance , Ormed Goto, and GlobalTech alignment and Electron.
In the foreign exchange market, the dollar went up by about 0.4% and traded around 3.532 shekels, while the euro weakened by about 0.9% and traded around 3.72 shekels.
12:11
The increases in the stock market are getting stronger. The Tel Aviv 35 index climbs by about 0.8% and the Tel Aviv 90 index rises by about 2%. The biomed index jumps by 3.5%, and the construction stock index stands out with a 2.4% increase. The trading turnover amounts to about NIS 470 million.
Significant increases are recorded Productivity Network , Isracard , Housing and Construction , Polymer , Direct Financing , Israel Canada and Summit.
On the other hand, on the red side there are prominences Waybox , peaks , a building and Arad
In the bond market, increases of 0.3%-0.4% are recorded in long-term government shekels and the central Tel Bond indices rise by about 0.2%. The bonds of G City Increases of 1%-2% stand out and those of Kardan NV jump by more than 10%. Series 12 of Norstar jumps by about 8%.
10:40
Increases in the stock market at the same time as a positive trend in Europe and slight increases in futures trading on US stock market indices. The Tel Aviv 35 index climbs by about 0.5% and the Tel Aviv 90 index rises by about 0.9%.
Significant increases are recorded Electron , Mitronics , Haikon Systems , iSure Medical and an aerodrome.
stock Move Power jumps by about 13% after the company reported this morning that it launched, in cooperation with Afcon And Dor Alon, an ultra-fast charging station for electric vehicles, the first in Israel, based on its kinetic storage system.
10:05
The trading day on the stock market opened with slight gains. The Tel Aviv 35 index climbs by about 0.4% and the Tel Aviv 90 index rises by about 0.3%.
Prominent increases register Summit, Daniel , Big , Delek Group andHousing and Construction .
company aura reported this morning that in 2022 it sold 525 housing units, compared to 553 housing units in 2021. The total consideration for the housing units sold in 2022 amounted to approximately NIS 1.61 billion compared to approximately NIS 1.22 billion in 2021. The average price per square meter in the apartments sold last year was NIS 29,909, an increase of about 35% compared to 2021.
Ayelet Sarfati Rosen, joint CEO of the company Icon Group , announced her retirement from the position after 9 years. The company states that Zrafati Rosen will step down from her position in a few months, after a replacement is found for her and after an orderly process of transferring the position.
09:30
company Solgreen reported this morning that it won two RMI tenders for the lease of land totaling 2,800 dunams in Naot Hovav and Ramat Beka, on which it plans to build projects with a total installed capacity of up to 520 MW, plus a storage capacity of up to 940 MWh. The company estimates that the construction cost of Each project is expected to be about NIS 820 million and upon completion, each of the projects is expected to yield an annual EBITDA of up to NIS 200 million.
09:00
Elbit Systems reports on winning a contract, for 3 years, in the amount of 107 million dollars from the Ministry of Defense for the supply of training centers for tanks.
08:50
In the foreign exchange market, the shekel strengthened against the euro and the dollar. The dollar weakened by about 0.4% and traded around 3.504 shekels and the euro weakened by about 0.5% and traded around 3.733 shekels.
07:45
5 things you should know before trading on the Tel Aviv Stock Exchange
1. The stock markets
The trading day on the stock exchange is likely to open with a mixed trend. This is after trading closed with slight gains yesterday after the Bank of Israel’s announcement of a further increase in interest rates in the economy. TA 35 added 0.2% to its value, TA 125 increased by 0.3% and TA 90 increased by 0.6% with the support of the yielding real estate shares. Among the sectoral indexes, the banking index ended with an increase of about 0.3%, the oil index advanced by 0.3% and the foreign yield index jumped by 2.7%. In contrast, the energy infrastructure index fell by 0.4% and the communication index shed 0.3%. Trading turnover amounted to NIS 1 billion.
In the Asian stock exchanges today, trading is conducted in a mixed trend, with the Kospi index falling by about 0.4% and the main stock index in Australia retreating by 1.4%. In China there are increases of about 0.5% and in Hong Kong the Hang Seng index rises by about 1.4%.
In futures trading on US stock market indices, slight increases are now being recorded.
● Price increase in the capital market as well: behind the jump in management fees charged by mutual funds
● The Bank of Israel raised the interest rate by 0.5% – to the highest level since 2008
● “Preparing the ground for the end of interest rate hikes”: Economists react to the Bank of Israel’s decision
2. The bond markets
The yield on the two-year bond increases by approximately 5 basis points to approximately 4.46% and the yield on the 10-year bond increases by approximately 2 basis points to approximately 3.85% and the yield.
In Tel Aviv, a mixed trend was recorded in the government bond market with a downward trend yesterday after the Bank of Israel’s announcement of a 0.5% increase in interest rates in the economy, and in the corporate market, increases of 0.3%-0.2% were recorded in the main Tel Bond indices.
Dr. Gil Bafman, Bank Leumi’s Chief Economist, and Dodi Reznik, interest rate strategist at Leumi Capital Markets, write in their weekly review that “In the non-linked shekel channel, it is recommended to invest mainly in the short part of the curve in combination with investment in the longest part. In the channel linked to the index, an investment in medium interest rates is recommended. With the current inflation expectations, we recommend a balanced investment between the channels.”
3. The commodity and currency markets
In the commodity market, the contracts for crude oil register decreases of about 0.5%-0.6% and gold climbs by 1.1% to the level of 1,847 dollars per ounce.
In the forex market, the dollar is now weakening by about 0.7% against the Japanese yen and is trading around 129.9 yen to the dollar. The Chinese yuan weakened by about 0.1% and traded around 6.888 yuan to the dollar. The euro is stable around $1.066 per euro and the pound is strengthening by 0.2% around $1.207 per pound.
In the crypto market, Bitcoin is stable and trades around 16.7 thousand dollars, and Ethereum also trades with minimal changes around 1,210 dollars.
4. Macro
Yesterday, as expected, the governor of the Bank of Israel announced another increase in the interest rate in the economy by 0.5% to an annual level of 3.75%.
Today the consumer price index will be published in Turkey (which is expected to record an annual increase of 66.5%, a moderation compared to 84.4% this month) and in Germany the consumer price index will be published (an annual rate of 9% is expected, compared to 10% the previous month) as well as the unemployment rate. Tomorrow (Wednesday) the price index will be published in Switzerland (expected to be 2.9% at an annual rate), and in the USA the employment index in the manufacturing sector (ISM) will be published and at 21:00 the minutes from the last meeting of the Open Market Committee at the Federal Reserve will be published, in the framework of which the interest rate was raised in 0.5%. On Thursday, the weekly unemployment and oil inventory data in the US will be published.
On Friday, an estimate for the consumer price index in the Eurozone will be published (an annual rate of 9.7% is expected in December compared to 10.1% in November) as well as the monthly employment report in the US – where the number of employed people is expected to increase by 200,000, after an increase of 263,000 the previous month. The unemployment rate is expected to remain unchanged at 3.7%.
5. Forecast
Rafi Gozlan, Chief Economist, at the investment house, states in a review that he published that “Our inflation forecast calls for an increase of over 5.5% in the annual inflation rate in Israel in the coming months, and a moderation to below 5% during the second quarter of the year. This assessment poses an upward risk For the interest rate route, to levels above 4%, because the level of confidence in the decline of the inflation environment is not high.”
“Beyond the expectation of a continued rise in local service inflation, the inflation forecast for the coming months is affected by the depreciation of the shekel exchange rate (about 3.5% in December against the basket), a positive contribution from the energy component (electricity and fuel), an expected acceleration in food prices, and opposing effects from taxation (a A car versus disposable utensils and sugary drinks)”.
“The balance of risks continues to lean towards a high inflation environment in Israel and around the world in the coming months as well, hence the upward risk to interest rates. On the other hand, the current pricing in the bond market does not in our estimation reflect a sufficient risk premium for these factors, so the preference for a more defensive position in terms of interest rates continues the portfolio, while expecting a further upward adjustment in the interest rate environment and nominal and especially real,” he writes.