Ongoing reporting from the Tel Aviv Stock Exchange: the important updates, the prominent stocks, the bonds and the analysts’ updates
15:50 – The Tel Aviv Stock Exchange closed in red on the first day of the trading week, after the sharp declines recorded over the weekend on Wall Street.
The Tel Aviv 35 Index erased 2.9% of its value, Tel Aviv 125 lost 2.6%, Tel Aviv Banks fell 2% and Tel Aviv Real Estate fell 4.4%.
A negative arbitrage gap dropped LivePerson by 14.9% and Teva by 9.3%.
The Tel Aviv Oil and Gas Index stood out in green and climbed 2.5%, while the rest of the industry indices closed in red. The Delek Group strengthened by 2.4%, Energian jumped by 6.5%.
Among the other bright spots in the stock market today – Telrad jumped by 18.3% after the announcement of its sale to the American liquid, Revad jumped by 11.7% after reporting the sale of control of the company at a premium of 10%.
14:50 – Alex Zabrzynski, Chief Economist at Best Local story – this is a direct response to the strong negative sentiment recorded overseas during the holidays in Israel. ”
14:10 – The foreign yield index falls by 4.7%, the sharpest decline among the industry indices of the stock exchange – Boligo at the bottom of the index falls by 9.8%, Argo loses 6.8%, Electra Real Estate cuts by 6.5%.
Also notable are: Tel Aviv Construction is down 4.6%, Israel shares are down 4.1% and Tel Aviv Insurance is down 4%.
13:30 – Ravad shares are up 7.6%, following the announcement of the sale of the controlling shareholders’ shares (62%) to Roi Gil and Yehuda Sage, at a value of NIS 257.5 million. a million shekels.
13:00 – The decline in Tel Aviv 35 intensified to minus 3%; turnover is very high relative to Sundays, over NIS 750 million in the middle of the day – Leumi at the top of the cycles, NIS 42.6 million.
11:00 – Strong increases in shekel bond yields, Following the sharp jump in US bond yields (see early update): Israel’s 10-year bond yield (0432) jumps by 8 basis points to 2.49%.
10:55 – 112 of the shares in the Tel Aviv 125 index are traded in red.
Energian leads the rising stocks, by a jump of 6.8%.
Telrad jumps 19.4% after the Fortissimo fund announced its sale at a share price of NIS 3.78. The Telrad share is currently trading at NIS 3.55.
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Yuval Cohen, partner at Fortissimo and chairman of Telrad Networks
(Photo: Uriel Cohen)
10:07 – Beading and red opening on the stock exchange (after a 6-minute ‘moderation’ delay), following the falls of the last few days on Wall Tserit: the Tel Aviv 35 index was cut by 2.4%, the Tel Aviv 125 is down 2.2%, Tel Aviv Banks is down It is also down 2.2% – Discount is down 2.4%, Leumi and Poalim are down 2%.
Negative arbitrage drops Teva by 8.7% and LivePerson by 14.5%; Telrad Networks jumps by 20%, still in the pre-trading phase, following the announcement of the sale of the company to the American Liquid for NIS 198.7 million, a premium of 27% over the market price.
9:50 – Beyon3D reports a first acquisition. The company signed an agreement to acquire Kidud Engineering worth NIS 9 million, in cash and in the company’s shares.
9:30 – Medipower reports the signing of a letter of intent to purchase a commercial center in the metropolitan area of Washington, D.C. The property includes a commercial center located in the state of Virginia, with an area for rent of approximately 10,365 sq.m. The consideration will be $ 36.5 million.
9:10 – Massive updates that as part of the launch of the printer at an exhibition in France she received 12 conditional and non-binding orders for the printer.
9:05 – New investment for Tectona: The company will provide a $ 5 million loan to Fuse Network, the developer of the blockchain network FUSE LABS – Tectona will appoint a representative to the company’s board and assist it in business, and will receive up to 32.5 million tokens (coins) from Fuse, depending on business objectives.
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Tectona CEO Yossi Barnea
(Ilan Besor)
9:00 – The 10-year US bond yield jumped to 3.14% in recent trading days in New York. The yield on the corresponding bond in Israel (0432) opens the week at 2.41%.
8:30 – Fortissimo’s Telrad Newtrax is sold to the American company Liquid for NIS 198.7 million (at a price of NIS 3.78 per share). The price reflects a premium of 27% on Telrad’s value, which closed at NIS 157 million (NIS 2.99 per share) on Friday, as well as a premium of 23% compared to the average share price in the last 30 days prior to the signing of the merger agreement on May 3.
Telrad clarifies that “the merger will be completed within a few months from the date of signing the merger agreement, subject to the conditions precedent.
8:00 – Sunflower updates that after due diligence, it stopped contacts for the purchase of a project to build a combined natural gas-based power plant in the US. .
Avgol reported 19.5% first-quarter revenue growth to $ 114.7 million. Operating income was $ 16.9 million, compared to $ 1.3 million in the same quarter last year. Net income was $ 12.3 million, compared to $ 146,000 in the same quarter last year.
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Avgol factory
(Photo: PR)
7:00 – The Tel Aviv Stock Exchange returns to activity, after the long vacation of Remembrance and Independence Days – during which the overseas markets shook quite seriously, following the Fed’s fourth announcement of raising interest rates by 0.5%.
On our local front, the political threat to the continued existence of the government reaches a critical stage, ahead of the opening of the Knesset’s summer session – with at least commentators in the field questioning the government’s ability to survive the session.
Of course, the progress into the financial statements season of the first quarter is also on the agenda, as the dripping of reports will intensify day by day in the coming weeks. The highlight of the week will come with the results of the Nice Dual, which will be published on Thursday (before the opening of trading in New York).
On Wednesday evening, after Fed Chairman Jerome Powell’s press conference, the NASDAQ index jumped 3.2%, the Dow Jones by 2.8%, and the S&P 500 rose 3%. On Thursday, the picture was completely reversed, with NASDAQ falling 5%, Dow Jones cutting 3.1% and the S&P 500 losing 3.6%.
The declines continued on Friday, although at more moderate rates: the Nasdaq closed down 1.4% (after opening the day with an even sharper decline, of 2.7%, the Dow Jones was down 0.3% and the S&P 500 was down 0.6% .
After these sharp movements, the senior duals of the stock exchange are expected to cut over 1% in the opening TA 35 index. Teva returns to the domestic market with negative arbitrage of over 8.5%, LivePerson with minus 14%, Nice 3.5%, ICC 1% -, horizon almost 8% -.
Will partially offset the negative impact on the recurring duality index with a positive gap: Ormat Tech 2.2%, Tower 1.2%, Elbit Systems 0.3%, Nova 0.7%, Canon -0.5%.
On the agenda this week in international markets: Tomorrow there is no trading in Hong Kong due to a national holiday; In the US, inflation data are expected for April: The consumer price index will be published on Wednesday, with annual growth of 8.1%, followed by 8.5% in March.
On Thursday, the producer price index was released – forecasts are for an annual increase of 10.7%, after reading 11.2% in March. And there are also full reports in the US, with Disney in the lead – the media giant will publish its results on Wednesday after closing.
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Tel Aviv Stock Exchange
(Photo: Bloomberg)