The main indices on the Tel Aviv Stock Exchange fell today. The Tel Aviv 35 Index fell 0.77%, to 1,965.71 points, and the Tel Aviv 125 Index fell 0.23%, to 1,986.41 points The BlueTech Global Index rose 0.40%, to 378.14 points. The TelBond 60 corporate bond index rose 0.28%, to 353.00 points. Turnover totaled NIS 1.13 billion in equities and NIS 1.68 billion in bonds.
On the foreign exchange market on Friday, the shekel-dollar representative rate was set 3.14% lower, at NIS 3.4510/$, and the shekel-euro representative rate was set 0.14% lower, at NIS 3.5401/€.
Bank Hapoalim led trading today, and fell 1.30%. Bank Leumi fell 1.56%; Tadiran fell 18.18%; Discount Bank fell 1.84%; and ICL fell 1.30%.
The fall in Tadiran’s share price followed the release of third quarter financials showing a 51% rise in revenue in comparison with the third quarter of 2021 to NIS 602 million but a decline in gross profit margin from 24.4% to 17.5%. Tadiran deals in air conditioning and energy storage. Its CEO and controlling shareholder Moshe Mamrud explained the decline in gross profit by the company’s measures to deal with supply chain difficulties, and the relatively mild summer in Israel this year.
Notable advancers today were Menivim, up 6.93%; Naphtha, up 6.10%; IES, up 6.01% and Delek Automotive, up 5.79%. Besides Tadiran, the big decliners were Electra, down 4.58%, and Nice Systems, down 3.97% after its steep rise on Thursday.
Published by Globes, Israel business news - en.globes.co.il - on November 13, 2022.
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