Red on the Stock Exchange
TA 35 loses 1.8%, TA 125 drops 1.9%; Workers lose 3.4%, Leumi drops 2.6%, Delek deletes 6.1%; The U.S. Department of Justice is suing 26 pharma companies, including them, on charges of price coordination; Housing and Construction jumps 4.4% in background of winning tender to purchase power plant in Ramat Hovav.
Current Report from the Tel Aviv Stock Exchange: Important Updates, Major Stocks, Bonds and Analyst Updates
TA-35 (1,437.22.17%) TA-125 (1,407.22.23%) Banks-5 (2,033.02.41%) Technology (975.52.34%) Biomed (231.03.13%) Oil and gas (410.85.01% Real Estate (633.32.32%).
15:10 – The decline in energy stocks is intensifying, as oil prices weaken in the background. Fuel Group erases 6.1% of its value, Ishramko loses 5.9%, Energian plunges 5.6% and runs down 5.5%. The TA oil and gas index falls by 4.2%.
12:30 – 28 stocks in TA 35 are trading in red, Teva recorded the sharpest decline, falling 5% in the background of a US Department of Justice lawsuit, Fatal deletes 4.6% and Gazit Globe withdraws 4.5%. On the positive side of the index – housing And construction is up 4.3%, Shafir Engineering is up 1.5%, and Leiferson is up 1.4%.
Ms. Yam fell 3.1% despite announcing a significant agreement for it. The company will set up a logistics center within the Fences Regional Council, and will lease it for more than NIS 4 million a year to Lake Company. The agreement with Lake Company is for a period of ten years.
Banks index plunges 2.6% – workers lose 3.3%, Leumi falls 2.5%, Discount and Mizrahi Tefahot weaken 2.3%, international recedes 1.1%.
11:00 – Shikun & Binui jumps 4.2% and leads TA 35 despite the declining trend this morning on the stock exchange, after a partnership with a company with Edeltech and Adelcom won the tender for NIS 4.2 billion power plant in Ramat Hovav. NIS 2 billion from the price of the station in the electricity company books, and the Electricity Authority previously said that any surplus received in the purchase will be refunded to consumers through the reduction of the electricity tariff, which is the second of the five for which there is a duty to sell under the reform of the electricity company.
OPC’s share, which also participated in the tender, falls 6.4%.
The negative trend in the leading indices is increasing slightly, in the background of sharper declines in European markets. The TA 35 and TA 125 indexes are losing 1.8%, the banks index is down 2%.
10:05 – Trading opens: TA 35 down 1.5%, TA 125 down 1.3% and TA Banks cut 1.7% – Discount falls 2.2%, workers weaken 1.7% And Mizrahi Tefahot by 1.5%. Housing and construction rise 3.7% at the Tel Aviv Summit 35, Perrigo loses 4.8% at the bottom of the index Of price coordination; Fattal loses 4%, Harel declines 0.8% after reports.
9:40 am – Ms. Yam builds a new 7,600 sq. Ft. Of Margo area within the Gederot Regional Council and rents it out for over NIS 4 million a year to Lake Logistics and Storage Company.
8:20 – The crisis in general insurance is expected to lead to the company being named Naveh by the top of its office holders by the end of the year. CEO Yoram Nave is expected to leave in the near future at the initiative of the board, while chairman Danny Nave’s term as director is not expected to resume at the upcoming general meeting at the end of the year. Yesterday, external examiner Yoram Danziger delivered the final draft report prepared against the background of the impeachment attempt by CEO Yoram Naveh.
The report criticizes Chairman Danny Naveh, regarding the conversation in which Yoram Naveh’s CEO proposed to resign, because he is about to advance his dismissal on the board. Danziger notes in the report that the CEO’s dismissal procedure has clear rules, the issue must Danziger states that there was a flaw in Danny Nave’s conduct vis-à-vis Yoram Neve. “The chairman of the board has no excess authority over any other director. He has only shared a portion of the board of directors. Members of the board in his attempt to oust the CEO. He was trying to create reality alone prohibited. ”
8:00 am – Harel released Q1 reports: The insurance company posted a total loss of NIS 555 million in January-March, compared with a profit of NIS 376 million in the corresponding quarter last year. The main reason for the result of Harel’s report is investment losses of NIS 820 million. In recent weeks, there has been a correction in the markets – although the stock exchange has not returned to pre-crisis levels, and yet in Harel, investment losses have been fully offset since the end of the quarter.