Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
17:30
Trading on the Tel Aviv Stock Exchange closed in a mixed trend, after the declines moderated. Tel Aviv 35 closed with gains of 0.1%, Tel Aviv 125 fell by 0.1% and Tel Aviv 90 weakened by 0.6%. The bank index jumped by 1%. The declines in the real estate indices also moderated. Tel Aviv Construction lost 1.7% and Tel Aviv Real fell by 1.2%.
The turnover amounted to NIS 3 billion.
stock Liveperson stood out negatively in the declines and deleted 48% of its value. Other stocks that stood out in decline are Apollo Power which lost 8.4%, The Marman plant which decreased by 6.5%, Regions which fell by 5.4%, Enlight Energy which weakened by 4.4% andHousing and Construction which shed 4%.
16:20
Red trend in Tel Aviv: Tel Aviv 35 falls by 0.6%, Tel Aviv 125 loses 1% and Tel Aviv 90 falls by 2%.
Real estate shares fall sharply in trading. Tel Aviv Construction loses 2.4% leading shares The Marman plant , Hanan Mor , Housing and Construction andIsrael Canada . Tel Aviv Real Estate decreases by 2.3.
stock Liveperson drops by 50%. The company reported revenues of approximately $122 million in the fourth quarter, a decrease of 1.1% compared to the corresponding quarter, an amount lower than analysts’ expectations.
In the bottom line, Liveperson recorded a quarterly net loss of 41.7 million dollars. Liveperson expects quarterly revenues of $106-109 million in the first quarter, a decrease of about 17% compared to the corresponding quarter.
15:22
The declines in the stock market are getting stronger: the Tel Aviv 35 index now registers a decrease of about 1.1%, and the Tel Aviv 90 index is down by 2.2%. The construction index drops by about 2.4%. The trading turnover amounts to about NIS 1.4 billion.
Liveperson collapses by 47%, Apollo Power falls by 8%, and housing and construction by about 7%. More pronounced in sharp mega-light descents, Pershkovsky G City, Delta Galil Argo, Harel Investments And Big.
14:06
The Tel Aviv 35 index now registers a decrease of about 0.4%, and the Tel Aviv 90 index is down by 1.2%. The banks index, on the other hand, registers an increase of about 1%. The trading turnover amounts to about NIS 1.1 billion.
In the bond market, there are now declines of up to 1.7% in long-term government shekels, in response to the price index published yesterday, which was a surprise for the worse, and a mixed trend in the closeness of the index. The central Tel Bond indices are up by about 0.1%.
In the foreign exchange market, the dollar strengthens by about 0.6% and trades around NIS 3.66, and the euro strengthens by about 0.7% and trades around NIS 3.88.
company Next Vision reported a sixth deal since the beginning of the year. The company received an order to purchase the company’s cameras in the amount of 4.9 million dollars. According to the order, the company will deliver the order during the year 2023, when a rate of 35% of the proceeds will be paid as an advance at the time of the order, and the balance will be paid in several payments before the delivery of the products in each shipment.
13:07
The Tel Aviv 35 index now registers a decrease of about 0.6%, and the Tel Aviv 90 index is down by 1.2%. The foreign yield index falls by 1.7%, while the bank index, on the other hand, went up slightly. The trading turnover amounts to approximately NIS 954 million.
stock Trade stamp Drops by 20%, after the company, which operates in the field of financing, mainly in the field of real estate, published reports in which it presented a sharp increase in provisions for credit losses, from about NIS 4 million in mid-2022 to about NIS 8 million at the end of the year.
More prominence in sharp declines Shoham Business , Liveperson , Ogwind , Housing and Construction , Argo Properties and mega light.
12:17
The declines in the stock market are moderating: the Tel Aviv 35 index registers a decrease of about 0.8%, and the Tel Aviv 90 index falls by 1.3%. On the other hand, the banks index went up slightly. The trading turnover amounts to approximately NIS 609 million.
Significant increases are recorded Productivity Network , Doral Energy Gilat, Nova and Arith.
Investigators from the Israel Securities Authority searched the energy company’s offices on Wednesday Apollo Power which is under the control of the others Yishai and Yossi Mor (through the Westar Fund), this is as part of an investigation of the controlling owners of the company regarding the suspected use of insider information.
11:20
The Tel Aviv 35 index registers a decrease of about 1.3%, and the Tel Aviv 90 index drops by 2.5%. The construction index stands out with a decrease of 2.3%, and the foreign yield index plunges by 2.4%. The trading turnover amounts to approximately NIS 609 million.
10:50
Negative trend in the stock market: the Tel Aviv 35 index registered a decrease of about 0.8%, and the Tel Aviv 90 index retreated by about 1.6%. The construction index stands out with a decrease of 1.8%.
Sharp declines are recorded among other things mega light Argo, Housing and Construction, Arrow oaks , Enlight Energy , aura Azrieli and Acro.
partnership Isramco reported this morning that the revenues from the sale of gas and condensate in 2022 amounted to about 519 million dollars, compared to about 410 million dollars in 2021, an increase of about 27%. The growth in revenues was mainly due to an increase of approximately 18% in the amount of natural gas sold in 2022 compared to the corresponding period last year, and an increase of approximately 6% in the average price of the natural gas sold. The profits of the partnership in 2022 amounted to about 159 million dollars, compared to a loss of about 45 million dollars in 2021.
In the bond market, there are now declines of up to 1.2% in long-term government shekels, in response to the price index published yesterday, which was a surprise for the worse, and a mixed trend in the closeness of the index. The central Tel Bond indices are up by about 0.1%.
10:06
A negative trend at the opening of trading on the stock exchange: the Tel Aviv 35 index registered a decrease of about 0.6%, and the Tel Aviv 90 index retreated by about 0.8%. The real estate index stands out with a decrease of 1.3%.
Prominent increases register nova, his horizon , Summit And Elko.
On the other hand, there are sharp declines Housing and Construction , Electra Real Estate Azrieli andIsrael Canada .
Liveperson drops 36% after the reports and forecast.
08:35
In the foreign exchange market, the local trading day opened with the dollar weakening slightly and trading around 3.64 shekels, and the euro maintaining stability around 3.86 shekels.
07:45
Five things you should know before the trading day in the stock market
1. The stock markets
The trading day on the stock exchange is likely to open with a mixed trend. Even today, investors in Israel will continue to follow on the one hand the developments related to the legal revolution and on the other hand what is happening in the world’s stock markets, so the high volatility is expected to continue. Yesterday, the country’s president, Yitzhak Herzog, presented his outline for a compromise regarding the legal legislation.
Yesterday trading on the stock exchange closed with declines: TA 35 lost 1.8%, TA 125 fell by 1.6%, and TA 90 fell by 0.8%. The banks index lost 1.8%, and the TA oil and gas index fell by 2.6 %. The turnover amounted to NIS 2.3 billion.
Trading in futures contracts on US stock market indices is now showing slight increases. This is after a mixed shutdown was recorded on Wall Street yesterday, after a trading day characterized by sharp declines: the Dow Jones closed with a decrease of 0.87%, the S&P 500 decreased by 0.7%, And the Nasdaq closed with a slight increase of 0.05%.
In Asia, the trend is negative: the Hang Seng index in Hong Kong registers a decrease of about 1.2%, in Tokyo the Nikkei is cut by 1%, and in Seoul the Kospi is down by 0.2%.
Traders in the world markets will continue to follow today the developments related to the Swiss bank Credit Suisse. The bank announced last night that it borrowed up to 50 billion Swiss francs ($53.68 billion) from the Swiss National Bank under a covered lending framework and a short-term liquidity framework. The decision to take the loan comes shortly after the bank’s shares fell sharply on Wednesday, reaching an all-time low. The drop in share value came after the main investor in the bank, the Saudi National Bank, announced that it would not be able to provide further assistance.
Most of the dual stocks returned from Wall Street with negative spreads. Energian stands out with a negative gap of about 4.4%, and vice versa Nova with a positive gap of 1%.
Liveperson published weak reports and a disappointing forecast last night after the end of trading on Wall Street, and the stock fell by about 39% in late trading, so it is expected to fall sharply in Tel Aviv this morning as well.
● Menorah Mivathim does not give up: increased Isracard’s purchase offer to NIS 3.5 billion
● In the background of the upheaval in the USA: what should you know before returning money to Israel?
2. The bond markets
The bond market returned to pricing the expected increase in the Federal Reserve’s interest rate next week with high odds, after several estimates were heard in recent days that the Fed would leave the interest rate unchanged against the background of the collapse of the US banks. What brought about the change in the trend in the market are the inflation figures, which in accordance with expectations ordered an annual rate of 6%.
In the meantime, yields on US government bonds rose again after falling sharply in the shadow of the bank collapse. The yield on two-year notes, which are considered more sensitive to changes in interest rates, fell 0.6% on Monday and then climbed sharply to 4.36%. But then came the drama surrounding Credit Suisse on Tuesday and dropped the bond yield to 3.76%, and now it stands at about 3.97%.
3. The commodity and currency markets
After another day of sharp declines yesterday, oil contracts are up about 1.2% today. American WTI oil is trading around $68.4 per barrel (May contract), and Brent oil is trading around $74.6 per barrel. Gold registers a slight decrease to about 1,920 dollars per ounce.
In the global forex market, the euro strengthens by about 0.3% against the dollar and trades around $1.061 per euro. The pound strengthens by about 0.1%, and the Japanese yen strengthens by about 0.3% around 133 yen to the dollar.
In the crypto market we see an interesting trend – the decentralized currencies have soared since the banking crisis, and the currencies have reached almost six-month highs. However, after the peak a decline began. Bitcoin is now trading slightly higher around 24.5k, and Ethereum is trading around $1,650.
● Governors’ headache: when the fight against inflation collides with financial stability
4. Macro
Today (15:15 Israel time) an interest rate decision of the European Central Bank will be published (a 0.5% increase is expected). Also in the Eurozone, a consumer price index will be published tomorrow.
In Israel, the Central Bureau of Statistics reported yesterday that the consumer price index surprised and rose by 0.5% in February 2023. In the last twelve months (February 2023 compared to February 2022), the index rose by 5.2%. Market expectations were for a monthly increase of 0.2%-0.3% in February .
Guy Beit-Or, the chief economist of Psagot, notes that “On any other day, a figure like this should have told us with high certainty that the Bank of Israel would raise the interest rate at the beginning of April. The expectation was between 0.25% and 0.50%. However, the global developments of the last few days change the picture in our opinion. The upcoming interest rate decision of the Bank of Israel is expected to depend entirely on the interest rate decisions of the Fed and the ECB next week. These decisions will depend on developments in the markets during the coming week – if the declines in the markets accelerate, and God forbid we hear about more events in the banking sector (Europe or the US), the Fed and the ECB may stop. In our view, at least as of this moment – the central banks have probably stopped The process of raising interest rates, not to mention finished it. What will happen tomorrow? Ask us tomorrow.”
● The high inflation surprised the market: “The interest rate will rise to 5% and even higher”
5. Forecast
A special report by Bank of America finds that the Fed’s interest rate decisions affect Israel in a very significant way compared to other countries from Europe and the Middle East. In addition, the Fed’s decisions are more relevant to bond fluctuations than the central bank’s decisions, and it is seen that the greatest impact occurs after the Fed’s decisions compared to the local bank’s. The report shows that Israel’s 10-year bond rose in the highest correlation with inflation in the US.
The founder and CEO of Blackrock, Larry Fink, published his annual letter to investors and warns that we may be facing a domino effect. . The crisis may also lead to greater reliance on the capital markets. There is a risk of a third domino falling, with liquidity mismatches leading to further problems for leveraged portfolios,” he wrote.