After a mixed evening on Wall Street, and facing sharp rises in oil: waiting for the opening of trading in Tel Aviv
Following yesterday's declines on the Tel Aviv Stock Exchange, the local oil and gas sector is set to react to sharp rises in oil prices. This comes amid the renewal of mutual attacks in Iran.
Following yesterday's sharp declines on the Tel Aviv Stock Exchange and the retreat in local energy stocks, the local oil and gas sector is poised to react to sharp rises in oil prices, following the renewal of mutual attacks in Iran.
Updated price for the Generation-Shikun Energy deal
Shikun & Binui and the Generation fund are in the final stretch towards signing the deal to acquire Shikun & Binui Energy, after several extensions of the exclusivity period. The consideration in the deal will stand at 4.3 billion shekels, plus 150 million shekels for the period until the closing of the deal. In the initial memorandum of understanding, the consideration was 4.2 billion shekels, with the possibility of a conditional consideration of up to 300 million shekels.
Securities Authority demands: Israir to publish a supplementary report
Israir and Rami Levy are required to publish a supplementary report for the shareholders' meeting regarding an interested party transaction concerning the Rami Levy customer club. The Securities Authority forced Israir, controlled (57.16%) by Rami Levy, and Rami Levy Chain Stores, controlled by Levy (39.91%), to postpone the meeting. This follows Israir's classification of the deal as non-material, while the Securities Authority views it as material. The meeting has been postponed twice, and the companies must publish additional information demanded by the Authority.
Fidelity purchased part of the Phoenix shares sold by Jared Kushner
Affinity Partners, led by Jared Kushner, sold a quarter (2.5%) of its holdings in Israel's largest insurance company, Phoenix Holdings, for 1.05 billion shekels. Affinity, backed by sovereign wealth funds from Saudi Arabia, the UAE, and Qatar, will continue to hold 7.4% of Phoenix shares, worth 3.3 billion shekels. The main portion of the shares, about 1.6%, was purchased by the American firm Fidelity.
Ahead of the opening of trading in Tel Aviv
The Tel Aviv Stock Exchange will open following a mixed evening on Wall Street and a retreat in index futures ahead of the Fed's decision this evening. Brent and WTI oil prices are both rising by 4.3%, which may impact sector stocks. Yesterday, the Dow Jones rose by 1%, the S&P 500 by 0.2%, and the Nasdaq fell by 0.2%.
US Central Command (CENTCOM) stated on X that Islamic Revolutionary Guard Corps forces launched ballistic missiles from Iran in an attempt to conduct a surprise attack on American forces in the Middle East. Additionally, American and Saudi forces attacked logistics sites and weapons storage facilities of terrorist organizations in eastern Iraq in response to over 30 drone attacks carried out in the last three days by Iran-affiliated groups.
The yield on 10-year US Treasury bonds is rising by one basis point to 4.62%. The yield on 10-year Israeli government bonds stands at 3.88%. Yesterday, the TA-35 and TA-125 indices fell by 1.8%, and TA-Banks fell by 1.3%. Energy stocks saw notable declines: TA-Renewable Energy weakened by 3.8%, TA-Cleantech fell 3.47%, and TA-Energy Infrastructure fell 3.4%.
