After the sharp rises in New York: Waiting for the opening of trade in Tel Aviv

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Ongoing reporting from the Tel Aviv Stock Exchange: the important updates, the prominent stocks, the bonds and the analysts’ updates

Tel Aviv 35 Tel Aviv 125 Banks -5 technology Biomed Oil and gas Real Estate

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8:00 – A huge provision for credit losses drops Bank Hapoalim’s profits by 84.7% to NIS 133 million – compared to NIS 871 million in the corresponding quarter last year. The return on capital was cut to only 1.4% – compared to 9.3% in the second quarter of 2019. The Bank made a provision of NIS 1.128 billion for credit losses, due to the possible damage of the Corona crisis to the repayment capabilities of the loans. Net interest income fell to NIS 2.16 billion, compared with NIS 2.46 billion in the corresponding quarter last year.

7:45 – Also interested in purchasing EL AL: Meir Gurevitch, a real estate businessman who lives and works in the US and now wants to buy 25% to 40% from El Al. Next week, Eli Rosenberg, who has already offered to buy 45% for $ 75 million, will also meet with the board.

7:40 – Energix Reports: Revenues were NIS 99.8 million, compared to NIS 92 million in the corresponding quarter, operating profit was NIS 97.2 million, compared to NIS 97.4 million in the corresponding quarter, net profit was NIS 45.7 million, compared to NIS 31.1 million in the corresponding quarter.

Asa Levinger, CEO of Energix Photo: Abigail Uzi

7:30 – Avgol released reports after closing yesterday: The company’s revenues for the second quarter of the year were $ 103 million, compared to $ 101.4 million in the corresponding quarter last year. The company’s operating profit soared to $ 26.7 million compared to $ 8.5 million in the second quarter of 2019.

An investment house analyst also posted results. At the center of the day – workers’ reports and Elbit Systems.

7:20 – The Tel Aviv Stock Exchange will open this morning against the background of the strong rises recorded last night in New York – the Dow Jones index rose by 1.1%, the S&P 500 index strengthened by 1.4% and the Nasdaq index climbed by 2.1%. This morning there is a mixed trend in Asia – the Nikkei is up 1.8%, the Hang Seng is down 0.2%, Shanghai is stable, Kospi is up 0.8%, the Sydney Stock Exchange is down 0.7%; Softbank stands out with a 3.3% increase in Tokyo.

Yesterday, a positive close was recorded in Tel Aviv: the Tel Aviv 35 index climbed by 1%, the Tel Aviv 125 added 1.1%. In the background, a jump in the financial shares, especially in the insurance sector – Isracard jumped by 7%, Naoi by 14.3%, Both after the quarterly reports, Phoenix, Harel, Migdal and Clal jumped more than 5%, in banks, Poalim strengthened by 2.6%, Leumi by 2.3%, and the banks index climbed by 2.5%.

 Photo: Bloomberg

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