The first trading day of this week at the Tel Aviv Stock Exchange closed with declines led by banks and real estate stocks. The Tel Aviv 35 Index lost 1%, the Tel Aviv 90 Index fell by 0.5%, the Tel Aviv Real Estate Index fell by 2.2% and the Banks Index lost 1.9%
Israel Canada fell by about 9% after the publication of the financial reports, Azrieli lost another 4.2% following the declines recorded last week after the publication of the reports, Delek lost over 5%, Electra Consumers jumped by 9.5% after an optimistic forecast for Carrefour, Electreon fell by about 7% After the financial reports, Univo jumped 46% in the background of the resignation of the CFO in the shadow of the ‘going concern’ note affair that was attached to the company in retrospect.
Top Gap fell another 6.76%, completing a 46% decline since the beginning of November.
The trading turnover amounted to only NIS 678 million.
13:00
Trading on the Tel Aviv Stock Exchange is conducted in the red territory with a low trading turnover of only NIS 350 million. The Tel Aviv 35 Index loses 0.6%, the Tel Aviv 90 Index falls by 0.15% and the Bank Index sheds 1.1% of its value.
Shares of Electra Consumers jump 16% after providing a rather optimistic revenue forecast for the Carrefour owned chain – for the full article.
Isracard jumps by more than 7% in the background of the update in the Naoi brothers’ reports that the company purchased shares of a company in the industry to the extent of NIS 100 million. It appears that Naoi intends to seek approval from the regulator in order to hold the majority control of the credit card company that separated from Bank Hapoalim following the recommendation of the Strom Committee. For an interview with CEO Ran Oz – click here.
Fox plummets in the stock market after registering a 42% drop in net profit – for the full article.
Big Tech 50 will stop drawing management fees from next quarter. This is what the partnership announced with the publication of the reports that revealed beyond the loss – to the full article.
10:25
Trading on the stock exchange opened stably and without any significant change in the leading indices. Fox’s stock is down 7% after registering a 34% drop in operating profit in the third quarter of the year.
Yohannoff recorded a decrease in operating profit in the third quarter of the year, when the opening of new stores contributed NIS 22 million to revenues.
Electra consumption rises 5% after the reports. The company recorded an increase of 8.3% to approximately NIS 1.68 billion compared to approximately NIS 1.55 billion in the corresponding quarter last year. The increase in revenues is mainly due to an increase in the electrical consumer goods sector, an increase in sales in the electrical retail sector as well as an increase in the other sector which includes the field of camping, sports and leisure. The gross profit in the third quarter of 2022 increased by about 8% to about NIS 481 million (about 28.6% of revenues), compared to about NIS 445.3 million (about 28.6% of revenues) in the corresponding quarter last year.
08:00
The trading week at the Tel Aviv Stock Exchange is expected to open this morning (Sunday) stably, in the background of the continuation of the report season for the third quarter of the year, and after a mixed closing on Wall Street on Friday on a shortened trading day for the Thanksgiving holiday. The Nasdaq lost 0.5%, while the Dow rose 0.45%.
The dual stocks return from the US with an arbitrage gap without any substantial change. Ofco returns with a negative gap of 2%, Ormat with a positive gap of 1%, so does Teva, and on the other hand Tower returns with a negative gap of 0.66%.
Among the companies that will publish reports this week, you can find Electra, Fox, Yohannoff and Gensel that will publish today, Mizrahi Tefahot Bank, Shufersal, Shafir Engineering, Max, Dorsal, Strauss, Fatal and Mitronics that will publish tomorrow, Elbit Systems, Direct Insurance, Paz, the Lani Stock Exchange A. and Bank Leumi will publish reports on Tuesday, Fenix, Doral, Solair, Rothstein and Nofer Energy will publish on Wednesday.
reporting companies
The oil partnership Navitas Petroleum published its results for the third quarter before the weekend and recorded a 29% increase in revenues compared to the corresponding quarter last year to approximately $26.5 million. The EBITDA for the quarter amounted to approximately $16 million, compared to $15.3 million in the corresponding quarter, and the net profit increased by about 29% to $6.3 million, compared to about $4.9 million in the corresponding quarter.
Electreon also published reports before the weekend, according to which the company’s revenues for the first nine months of this year amounted to approximately NIS 4.97 million, of which approximately NIS 2 million are revenues from the third quarter, while in the corresponding periods last year there were no revenues at all. The increase is attributed to a project in Germany with the company EnBW and the project in Italy The company’s revenue target from projects for the year 2023-2024 is approximately NIS 102 million, with approximately 60% of the amount coming from existing contracts.