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The TA 35 and TA 125 indices lower by about 0.5%; Intel justified the choice to withdraw from the acquisition of Tower by not receiving the regulatory approval from China; Tafron jumps by 11% in irregular turnover – reported a 24% enchancment in working revenue; Mitronics loses 6.5% after the experiences.
After the top of the financial institution report season yesterday, that is what the shares within the sector did right this moment: Low cost rose by 0.7%, Leumi rose by 0.6%, Poalim fell by 0.2%, Worldwide fell by 0.3%, Mizrahi Tefahot fell by -1.1%
As a part of the GDP knowledge revealed by the Central Financial institution, it was additionally acknowledged that the funding in high-tech decreased within the quarter by 19.4% on an annual foundation. The Tel Aviv Tech Elite index is at present reducing by 0.7%, Turbogen falls by 13% to the underside of the index in an uncommon cycle Per share, Tower loses 10.5%, Hyper International weakens by 10%.
GDP knowledge is out: development within the second quarter was 3% in comparison with the primary quarter of 2023. That is in response to the nationwide accounting knowledge revealed right this moment by the CBS.
This annual development price corresponds to the newest development forecast of the Financial institution of Israel for 2023, after final July the financial institution up to date the forecast upwards, and the forecasts of the OECD (2.9%) and the ranking firms Moody’s and Fitch (3.1%). The precise development within the second quarter in comparison with the primary quarter was 0.7%.
Earlier than the publication of the expansion knowledge, the 10-year Israeli bond yield drops by 5 foundation factors to three.90%.
Tafron jumps by 11% after profitable experiences, and has a really uncommon turnover of just about NIS 1.4 million, towards a every day common of NIS 81 thousand within the final three months.
The corporate reported gross sales of $65.4 million within the second quarter, an 11.7% development in comparison with the corresponding quarter in 2022. Working revenue elevated by 24.2% to five.2 million {dollars}. The online revenue was 2.9 million {dollars}, in comparison with 2.1 million {dollars} on the identical time, a rise of 41%.
The positive aspects within the inventory market had been worn out, the TA 35 and 125 indices moved to decreases of 0.1%; on the ends of the TA 90 – Equitel rises by 2.8% on the prime, Mitronics falls by 7.3% on the backside.
After a protracted buying and selling break, buying and selling resumed in Tower, the inventory falls by 8%.
Ora Good updates that she didn’t put aside funds for social rights to staff (contributions to provident funds and coaching funds) for the month of July, 2023 in a complete quantity of 30 thousand {dollars}. “The corporate paid its staff the web element of the wage for the month of July 2023 for all staff, excluding the corporate’s administration, two extra staff and the controlling homeowners of the corporate who haven’t but acquired their wage as talked about, in a complete quantity of roughly 45 thousand {dollars}.
The corporate additionally updates that, in its estimation, on August 20, 2023, it is not going to have sources to pay the deduction element to the Nationwide Insurance coverage Institute and the Earnings Tax for the July 2023 wage in a complete quantity of roughly 40 thousand {dollars}.
Buying and selling opens, Tel Aviv 35 index rises by 0.3%, Tel Aviv 125 rises by 0.1%. Tower shares fall by 11.8% on the backside of TA 35, nonetheless within the pre-stage, following Intel’s announcement of the cancellation of the deal to buy Tower. This after regulatory approval for the deal was not acquired in China.
Tower shares are literally on an entire buying and selling halt “till a considerable report is revealed” – Intel has already introduced the cancellation after early experiences about it got here out within the world media; They revealed experiences: Nevena will increase by 1.7%, Mitronics falls by 7%, Tafron jumps by 13%.
Printed experiences: Matrix, the Israel Society, Isracht, Mbane, Navi, Africa Residences, Mitronics, Albad, Avrot and Taferon.
Intel is anticipated to cancel the deal value 5.4 billion {dollars} to buy the Israeli chip firm Tower Semiconductor (Tower Semiconductor). That is after the Chinese language regulator didn’t give its approval for its completion – in response to experiences in Bloomberg and Reuters this morning. Intel can pay Tower $353 million in cancellation charges.
The Tel Aviv Inventory Alternate will open the buying and selling day towards the backdrop of unfavourable sentiment in international markets. Tokyo is reduce this morning by 0.9%, Shanghai weakens by 0.3% and Hong Kong drops by 1.3%.
Final night time in New York – the Dow Jones index was reduce by 1%, the S&P 500 retreated by 1.2% and the Nasdaq fell by 1.1%. Within the background, there have been fears of a downgrade of dozens of American banks, together with massive banks corresponding to J.P. Morgan and Financial institution of America on the ranking businesses, when this impacts the sentiment of your complete market.
Yesterday in Tel Aviv a quiet lockdown: the Tel Aviv 35 index fell by 0.2%, the Tel Aviv 125 retreated by 0.1%, whereas the banks rose by 1.1% after one other day of experiences exhibiting will increase in income.
Earlier throughout buying and selling, the 10-year Israeli bond yield rose to 4%, for the primary time.
After the experiences of three different banks that offered income – Leumi rose 1.4%, Mizrahi Tefahot misplaced 0.6% and Worldwide is steady. Even after the experiences – Strauss fell by 0.8%, Elbit Techniques retreated by 1.4%.
Additionally, at 13:00 the expansion figures in Israel for the second quarter might be revealed, with the forecasts being for a slowdown to 2.5% development within the second quarter after a 3.2% development within the first quarter.
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