Discount Bank and Isracard Report Ahead of Tel Aviv Stock Exchange Opening
Ahead of the Tel Aviv Stock Exchange opening, the U.S. markets showed modest movements with the Dow Jones closing steady, the S&P 500 rising 0.3%, and the Nasdaq increasing by 0.5%. Oil prices declined slightly this morning, with Brent crude down 0.6% and WTI falling 0.8%. The yield on the 10-year U.S. Treasury bond decreased by 2 basis points to 4.68%, while the Israeli 10-year bond yield stands at 3.85%.
Among the companies releasing financial reports today are Discount Bank, Isracard, Melisron, Energix, Neomed, and Tamar Petroleum. Additionally, Israeli energy company Edaltak, controlled by Uri Adelsburg, is in preliminary talks to acquire a 50% stake in the Hagit power plant from Shikun & Binui Energy. The holdings are valued at approximately one billion shekels (net value of 800 million shekels after debt). Edaltak currently owns 25% of the Hagit plant, which operates near the Elikim junction with a capacity of about 660 megawatts. If the deal completes, Edaltak’s ownership will rise to 75%.
Yesterday, the Tel Aviv Stock Exchange closed positively with the TA-35 index up 1.1%, TA-125 up 0.8%, and the TA Banks index up 0.8%. Bank Hapoalim led the banking sector with a 1.8% gain, while Bank Leumi rose 0.4% after their earnings reports. OPC Energy surged 10.4% to lead the TA-35 following strong earnings, with its parent company, Kenon, controlled by Idan Ofer, increasing by 5.6%. Kamtek also stood out with an 8.4% rise. On the downside, Next Vision and NICE both fell by 5.6%.
