Stable lock in Tel Aviv; banks fell 1.8%, El Al jumped 7.8%

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

17:25 – The stock market closed the day with stability in the leading indices and declines in bank shares.

The Tel Aviv 35 Index maintained its opening level, Tel Aviv 125 climbed 0.1% while Tel Aviv Banks erased 1.8% of its value.

In the banks – Poalim and Leumi lost 2%, Discount and Mizrahi Tefahot recorded a decrease of 1.5% and International weakened by 1.2%.

El Al jumped 7.8% after reporting progress toward signing the additional aid agreement with the Ministry of Finance.

Givot Olam fell 13% after receiving an update that hampers its development plans.

Summit jumped 6.8% amid a deal made in the US by its subsidiary.

The Fox fashion group strengthened by 5.7% with a turnover of almost NIS 30 million, significantly higher than the average turnover of NIS 8.5 million in the Fox share last year. Fox has not released any report in recent days.

14:55 – Trading in Givot Olam shares has resumed and the stock is diving by 24%. This is after the decision that in the area where the partnership planned to carry out further development and drilling, it is no longer possible to carry out drilling beyond Meged5.

14:25 – Givot Olam Oil and Gas Exploration Partnership in a ceasefire, after updating that it “received in astonishment” the decision of the National Infrastructure Committee, which rejects Givot development and drilling plans.

Before the cessation of trading, the Givot share fell by 6.9%.

14:15 – Index edges on the stock exchange: Airport City leads Tel Aviv 35 with an increase of 2.1%, Melisron weakens by 1.1% at the bottom of the index.

Electra Real Estate jumps 7.1% at the top of the Tel Aviv 90 index, Ogwind closes the index down 4.5%.

12:30 – Radar maker Rada is up 3.3% amid forecast forecasts. The company sets a $ 140 million revenue target for 2022 and has projected $ 250 million a year in organic growth over the medium term.

11:00 – Summit updates that its subsidiary has entered into transactions for the purchase of approximately 400 units for rent in New York, for $ 65 million. At the same time, the subsidiary has entered into agreements to purchase 6 shopping centers for $ 130 million. Of $ 60 million.Summit shares are up 5.3%.

10:50 – Shlomo Eliyahu is surprising with the choice of his replacement as chairman of Migdal Holdings. Calcalist reported a short time ago that Former Supreme Court Justice Hanan MeltzerMeltzer is expected to be appointed chairman of the company in place of Eliyahu. Meltzer is expected to be appointed to a position at Migdal Holdings’ board of directors tomorrow.

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On the right is Judge Hanan Meltzer Shlomo Eliyahu

On the right is Judge Hanan Meltzer Shlomo Eliyahu

(Court website Anar Green)

10:00 – Opening in Tel Aviv: The Tel Aviv 35 and Tel Aviv 125 indices without significant movement; Sheikh Medical climbs 6.5% after the preliminary results; Traalite rises 4.3% following the announcement of Migdal’s partnership in 2 projects. -1.7% – The company reported advanced contacts with the Treasury prior to the signing of the additional aid agreement.

9:50 – Following the announcement on May 2 of the aid plan being formulated in contacts with the Ministry of Finance, El Al updates that a government decision was made yesterday approving additional aid to Israeli airlines following the outbreak of the Omicron virus. “The Company, the Ministry of Finance on behalf of the State of Israel and Wings of Eagles Aviation Ltd. (the” controlling shareholder “), are in advanced negotiations to complete the agreement for such additional assistance,” El Al said in a statement.

9:25 – Sheikh Medical publishes preliminary financial results: The cannabis company expects revenues in the fourth quarter of 2021 to be NIS 28 million, an increase of 174% compared to the corresponding quarter in 2020 and of 73% compared to the third quarter.

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Sheikh Medical Cannabis FactorySheikh Medical Cannabis Factory

Cannabis from Sheikh Medical Company

(Photo: YouTube)

8:50 – Traleit signed a memorandum of understanding with Migdal Insurance to enter as a partner in two Traleit projects with an investment of up to NIS 460 million: In the Dunmore solar project in Canada, in which Tralight owns 75%, Migdal is expected to invest up to NIS 190 million.

8:10 – The CEO of the Bank of Jerusalem, Gil Topaz, is resigning, according to an announcement issued by the bank yesterday after the transaction. The term of office has not yet been determined.

8:05 – Calcalist reports this morning that Shlomo Eliyahu, the controlling owner of the Migdal insurance company, He is considering retiring as chairman of Migdal Holdings. Eliyahu shared with a few in the emerging decision, whose motives also revealed: Tomorrow he will celebrate 86. However, it is not impossible that he will remain in the company in another position.

8:00 – Investors in the Tel Aviv Stock Exchange will in the coming hours follow the trend in the international markets entering a new trading week during the day, this time only partially – on Wall Street closed on the occasion of Martin Luther King Day. In Asia this morning a mixed trend, the Nikkei up 0.9%, Shanghai up 0.6%, Hang Seng down 0.9% and Kusfi down 1.4%.

Yesterday, the local stock market closed negatively: the Tel Aviv 35 index weakened by 0.7%, the Tel Aviv 125 fell by 0.6% and Tel Aviv Banks recorded a decline of 0.8%. The Delek Group climbed by 4.7%, the partnership in the Leviathan gas reservoir – Delek Drilling and Ratio – strengthened by 4.2% and 2.7%, respectively. The Tel Aviv Oil and Gas Index rose by 2.5% and is the only industry index that ended the day in green.

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Tel Aviv Stock Exchange 4Tel Aviv Stock Exchange 4

Tel Aviv Stock Exchange

(Photo: Bloomberg)

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