Discount Capital Invests 80 Million Shekels in Alumenergy Ahead of Tel Aviv Stock Exchange Opening

Discount Capital, the investment arm of Discount Bank, has made its second investment with the infrastructure fund Aluma by acquiring 16.5% of Alumenergy, Aluma's energy division, for 80 million shekels. This transaction values Alumenergy at 406 million shekels.

Real estate company Azorim sold 55 apartments in the second quarter, up from 35 in the first quarter. After canceling four sales deals, the net sales stood at 51 apartments in Q2. In Q1, 11 deals were canceled, resulting in 24 finalized sales. Revenue from apartment sales in Q2 reached 318 million shekels, compared to 120 million shekels in Q1 and 372 million shekels in the same quarter last year.

As the Tel Aviv Stock Exchange begins a new trading week, investors are reacting to positive gains on Wall Street last Friday, with the Dow Jones up 1% and the S&P 500 and Nasdaq rising 0.4%. Oil and gas stocks face pressure amid a roughly 1.5% drop in global oil prices. Notably, Nova and Camtek are returning to the exchange with a negative arbitrage exceeding 3%. The yield on 10-year US Treasury bonds fell by 3 basis points to 4.71%, while Israel's 10-year bond yield stands at 3.85%.

Since Friday's close, companies such as Airport City, Azorim, Supergas, and Hamashbir have released earnings reports. Additional reports from Fox, Navitas, and Shapir Engineering are expected throughout the day.