Thu: Stock market stumbles but still ends week higher

ICL was the only leading stock to rise today, while Infinya jumped after the report that a sale was near.

The main indices on the Tel Aviv Stock Exchange fell today. The Tel Aviv 35 Index fell 0.33%, to 2,060.40 points and the Tel Aviv 125 Index fell 0.15%, to 2,112.94 points. The BlueTech Global Index was unchanged, at 426.59 points. The TelBond 60 corporate bond index rose 0.09%, to 362.73 points. Turnover totaled NIS 2.57 billion in equities and NIS 2.49 billion in bonds.

For the week, the Tel Aviv 35 Index rose 0.3%. The index is up 4.2% for the year to date.

On the foreign exchange market, the shekel-dollar representative rate was set 0.28% higher, at NIS 3.2870/$, and the shekel-euro representative rate was set 0.82% higher, at NIS 3.2808/€.

ICL (Israel Chemicals) led trading today, and rose 3.50%. All the rest of the top five stocks fell. Teva fell 1.97%; Bank Hapoalim fell 0.71%; Bank Leumi fell 0.83%; and Mizrahi Tefahot Bank fell 2.06%.

Infinya (formerly Hadera Paper) rose 8.82% after Delek Automotive Systems Ltd. sustainability unit Veridis Environment Ltd. notified the Tel Aviv Stock Exchange that it was close to signing an agreement with Israeli private equity firm FIMI Opportunity Funds to buy Infinya for NIS 2.35 billion, representing a 17.5% premium on the company’s closing price yesterday. Veridis fell 3.89%.

Elsewhere, Fox rose 4.21% and its subsidiary Retailor rose 4.10% following the release of good quarterly results. OPC Energy fell 7.19%, and IDI Insurance fell 3.72%.

Published by Globes, Israel business news - en.globes.co.il - on August 25, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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