July 6, 2022

Y M L P-298

It Must Be Business

Stocks tumble at opening – Globes

2 min read

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The opening of buying and selling on the Tel Aviv Stock Exchange was delayed by a handful of minutes this early morning mainly because of volatility in the share rates of Opko Health and Liveperson in the pre-opening stage. The two have been amid many dual-shown stocks that opened with huge negative arbitrage gaps following the falls in New York on Friday. Opko Health had a destructive arbitrage gap of 9.9% Liveperson 13% Nova 4.5% Kenon 3.7% and Ormat 3.1%. The weighted arbitrage gap for Tel Aviv 35 Index stocks was 1.3%.

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The primary indices have fallen sharply this morning. The Tel Aviv 35 Index is down 3.25% the Tel Aviv 125 Index is down 3.37% and the BlueTech Global Index is down 2.90%. All the foremost stocks are down sharply: Financial institution Leumi is down 3.76% Mizrahi Tefahot Financial institution is down 4.14% Delek Group is down 3.17% Discount Financial institution is down 4.29% and Financial institution Hapoalim is down 3.51%.

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Previous week, the Tel Aviv 35 Index fell .8%.

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The shekel weakened significantly from the US dollar on Friday. The representative shekel-dollar charge was set 1.11% bigger, at NIS 3.3750/$. From the euro, the shekel strengthened really marginally, and the agent amount was set .03% reduced, at NIS 3.5827/€.

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In the US, Buyer Rate Index figures unveiled on Friday showed once-a-year inflation working at 8.6%, the maximum level recorded because December 1981. The US Federal Reserve is thanks to announce an interest charge selection on Wednesday. Most analysts hope a amount hike of 50 basis factors, but Jefferies and Barclays are predicting a hike of 75 basis factors next the large inflation figure for May.

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US stock indices fell sharply on Friday soon after the inflation figures ended up introduced. The S&P 500 shut off 2.91% the Dow Jones was off 2.73% and the Nasdaq 100 was off 3.56%.

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Posted by Globes, Israel business enterprise news – en.globes.co.il – on June 12, 2022.

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