Tel Aviv Stock Exchange Faces Mixed Open Amid Tech Stock Declines
Translated & summarized from Calcalist by baba
The Tel Aviv Stock Exchange is expected to open with a mixed performance, influenced by Asian markets and Wall Street futures, after last week's tech stock drops. Dual-listed stocks are returning with mostly negative arbitrage gaps, particularly Palo Alto Networks and Tower Semiconductor, which are anticipated to delay trading. Oil prices are declining despite geopolitical tensions.
The story in 5 lines · by baba
- The Tel Aviv Stock Exchange faces a mixed opening due to global market trends and tech stock declines.
- Palo Alto Networks and Tower Semiconductor show significant negative arbitrage gaps, expected to delay trading.
- Dual-listed stocks are returning with predominantly negative gaps, impacting the TA 35 index.
- Elbit Systems is an exception, returning with a positive arbitrage gap of 1.4%.
- Oil prices are falling despite ongoing tensions and attacks in Russia, Ukraine, and the Persian Gulf.
The Tel Aviv Stock Exchange is set to open the trading week amidst a mixed performance in Asian markets and gains in Wall Street futures, following significant declines in technology stocks last week. Concurrently, oil prices are falling despite heightened tensions in the Persian Gulf and attacks on energy infrastructure in Russia and Ukraine.
Dual-listed stocks on the TA 35 index are returning to trading with predominantly negative arbitrage gaps. Palo Alto Networks and Tower Semiconductor are notable for the sharpest negative gaps. Conversely, Elbit Systems is returning with a positive gap of 1.4%.
Specifically, Palo Alto Networks shows a gap of -8.4%, Tower Semiconductor -7.1%, Nova -3.4%, and both Nice and Enlight Renewable Energy at -3.3% each. Camtek follows with -2.4%, Ormat Technologies with -1.2%, and ICL with -0.1%. Teva Pharmaceutical Industries is returning with a negligible gap.
The substantial negative gaps in Palo Alto Networks and Tower Semiconductor are expected to delay the opening of trading on the Tel Aviv Stock Exchange.
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