Reaction to Falling Oil Prices and Wall Street Futures: Tel Aviv Stock Exchange Opening
Following a positive end to July, investors on the Tel Aviv Stock Exchange are reacting to rising US futures and falling oil prices, driven by Donald Trump's decision to cancel a strike on Iran.
Following a positive end to July, investors are reacting at the opening of the day to developments in global markets, including the optimistic mood on Wall Street and the fall in oil prices following Donald Trump's decision not to attack Iran.
BLenergy and Clal Insurance Strategic Partnership
BLenergy, the energy arm of the Blilius family, is bringing in Clal Insurance as a partner for investments in European projects. Calcalist has learned that Clal will invest 250 million shekels in a strategic partnership. More than 95% of this amount will be invested directly in projects, with the remainder going into the company itself, in which Clal will hold up to 20%.
G City-Ari Real Estate Deal at Risk
The G City-Ari Real Estate deal is on the verge of cancellation. Katzman has requested, through his lawyers, that Abu provide the agreement between Abu and the owners of Yeshpro, Kidan Dahari and Yaron Adiv, whom Abu added to the deal. Abu is unwilling to transfer the agreement, claiming his commitment to the deal is sufficient. Sources close to the transaction view this demand as Katzman's first step toward cancellation, which could lead to a legal conflict.
Fattal Strengthens Control Over London Luxury Hotel
Fattal is investing 66.5 million pounds (approximately 275 million shekels) to acquire the head lease rights for The Dilly luxury hotel in London, with plans to invest an additional 60 million pounds (about 248 million shekels) in renovations. These investments, added to the 90 million pounds spent on sublease rights in 2022, will bring the total investment in the hotel to approximately 220 million pounds (about 900 million shekels).
Tel Aviv Trading Outlook
The Tel Aviv Stock Exchange enters a new trading week and month following a strong July, during which the TA-35 rose by 2% and the TA-125 by 1.5%. The market is following the gains recorded on Friday on Wall Street.
On the agenda: a positive trend in US index futures alongside sharp drops in oil prices, following President Donald Trump's announcement yesterday that he decided to cancel a strike against Iran after receiving requests from Tehran and other Middle Eastern nations to refrain from the move to facilitate an agreement.
Market Reaction: Brent crude is down 5.1% to 83.5 dollars per barrel, and WTI is falling by 5.9% to 79.7 dollars per barrel.
On Friday, the Dow Jones rose by 0.5%, the S&P 500 by 0.7%, and the Nasdaq by 1%. This morning, Dow Jones futures are up 0.5%, S&P 500 futures are up 0.6%, and Nasdaq futures are up 1%.
The yield on 10-year US Treasury bonds is falling by 5 basis points to 4.70% (following a jump of nearly 10 bp on Friday). The yield on 10-year Israeli bonds stands at 3.85% this morning.
