Tel Aviv Stock Exchange Opens Amid Global Gains, Mixed Wall Street
Translated & summarized from Calcalist by baba
The Tel Aviv Stock Exchange opened Sunday with gains, mirroring positive global markets while Wall Street closed mixed. Israeli companies Teva and Nova saw positive arbitrage, while others like Palo Alto and Tower experienced negative returns. The Israeli shekel strengthened against the dollar after a week of depreciation. Rami Levy announced potential international store openings, and Shapir Engineering is in talks regarding refinery control.
The story in 5 lines · by baba
- Tel Aviv Stock Exchange opened Sunday amid global market gains and mixed Wall Street performance.
- Israeli companies Teva and Nova showed positive arbitrage, while Palo Alto and Tower had negative returns.
- The Israeli shekel strengthened against the dollar, reversing last week's depreciation.
- Rami Levy announced ongoing negotiations for international expansion of his supermarket chain.
- Shapir Engineering may gain control of the Ashdod oil refinery under certain conditions.
The Tel Aviv Stock Exchange (TASE) opened on Sunday, influenced by positive trends in global markets and a mixed performance on Wall Street the previous Friday. Futures for the S&P 500 and Nasdaq were up 0.5% and the Dow Jones rose 0.8% in early trading, while the Tokyo Stock Exchange climbed 3%. On Friday, the Nasdaq gained 1.1%, the S&P 500 rose 0.3%, and the Dow Jones fell 0.5%.
Israeli companies Teva and Nova are returning to the TASE with a positive arbitrage of 2%. Conversely, Palo Alto and Tower showed a negative arbitrage of 4.3%, followed by Nice at -2.8%, Camtek at -2.6%, and Ormat at -2.4%.
Next Vision is scheduled to release its financial reports today, along with Partner and other companies. The yield on U.S. 10-year bonds increased by 2 basis points to 4.85%, while Israeli 10-year bonds opened the trading week at 4.27%.
The Israeli shekel strengthened against the dollar on Sunday, falling by over 0.5% to trade around 3.17 shekels, following a 2.4% depreciation against the U.S. currency last week.
In business news, Rami Levy, CEO of Rami Levy Chain Stores, stated in a podcast that the company is in negotiations to open stores abroad, citing significant demand. Shapir Engineering may receive approval to control the Ashdod oil refinery, but would need to divest some of its current operations, according to representatives from the Competition Authority speaking at a committee meeting last week.
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