After the sharp declines on Wall Street: waiting for the opening of trading in Tel Aviv
Dual-listed chip stocks return to the Tel Aviv Stock Exchange with strong negative arbitrage gaps. The market prepares for the opening following significant declines on Wall Street.
Dual-listed chip stocks return to the Tel Aviv Stock Exchange with strong negative arbitrage gaps; oil and gas stocks will react to yesterday's surge in oil prices.
Institutional investors to enter the deal to acquire Shikun & Binui Energy.
Migdal, Amitim, and Harel are in advanced negotiations to invest more than 1 billion shekels in the energy arm of the Generation fund, PowerGen. At the same time, Phoenix will exercise an option it received to invest in PowerGen shares, reaching approximately 10% of the company's shares.
The Phoenix deal reflects a valuation of approximately 3.25 billion shekels for PowerGen before the Shikun Energy deal, and approximately 7.7 billion shekels after the deal. Each of the entities will invest 300-400 million shekels in the deal and will receive approximately 6%-7% of PowerGen's shares.
Eli Dahan's Movement company is interested in controlling the drug distribution company Novolog and has submitted a purchase offer for 21.34% of Novolog's shares, in exchange for an investment of 100 million shekels in the company itself.
Dahan previously held 11% of Novolog's shares privately, and his offer is at a price of 72.14 shekels per share, 5% above yesterday's closing price on the Tel Aviv Stock Exchange. The offer is valid until August 5.
Ahead of the opening of trading in Tel Aviv
The Tel Aviv Stock Exchange will open after an evening of sharp declines on Wall Street: the Dow Jones fell by 2.2% and lost 1,153 points — the sharpest daily point drop for the index since April 2025; the Nasdaq fell by 1.7% and the S&P 500 fell by 1.5%.
Strong negative arbitrage gaps have opened in dual-listed chip stocks: Tower returns to the stock exchange with a negative arbitrage of 6%, Nova with a gap of -3.5%, and Camtek of -4.4%.
Local oil and gas sector stocks will react to yesterday's jump of up to 7% in oil prices — which is being partially offset this morning: Brent is down 1.1% and WTI is weakening by 0.9%.
US government bonds reacted strongly to the Fed's decision to leave the interest rate unchanged — and to the press conference of Chairman Kevin Warsh: the yield on the 30-year bond jumped by 11 basis points to 5.20%, its highest level since July 2007. The yield on the 10-year bond climbed by 8 basis points to 4.68%.
They continue to rise this morning as well: the yield on the 30-year US bond is rising to 5.24% and the yield on the 10-year bond is rising to 4.71%.
The yield on Israel's 10-year bond stands at 3.88% this morning.
Yesterday, a negative close was recorded on the stock exchange: the TA-35 and TA-125 indices weakened by 1%, TA-Banks retreated by 1.5%, TA-Oil and Gas fell by 0.7%, TA-Cleantech lost 2.4%, and TA-Defense fell by 2.5%. Teva jumped by 10.1% after the reports, and climbed further in the evening by 9.6% on Wall Street.
