Trading Review: Ongoing Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
New York Trading Day closed with declines, led by high.tech stocks that continued to lose ground. The Nasdaq was down 2.1% and the Dow Jones was down 1%.
Facebook stood out with a decline of 4.9%. There were also sharp declines in Amazon, Moderna and Anvidia.
Among Israeli stocks, ZIM stood out with a drop of 11.4%, while productivity rose by 5.4%.
The declines continue on Wall Street, led by the NASDAQ index, which fell by 2.2%. The yield on US government bonds stabilizes at 1.48%.
Sharp declines are recorded Iron Source , Sentinel Van , Zim, Twitter , Riskipade and Faber. Stock soup Rising in trend.
Stock Facebook Drops after Francis Hogen, who leaked company internal documents including studies on the harm done to teens as a result of using social networks and information about the company’s algorithm that amplifies violent and polarizing content, today revealed her identity. The documents it revealed allegedly prove that Facebook presented misinformation to the public and investors on these issues.
In addition, in the last hour there has been a widespread malfunction in Facebook apps – Facebook, Instagram and WhatsApp. Many users report problems connecting to the network in the WhatsApp app and problems connecting to Facebook and Instagram.
European stock markets closed down 0.2% .0.8%. In New York, declines are exacerbated by the Nasdaq index, which fell 2.4 percent.
Energy stocks stand out in the wake of the continued rise in oil prices. Sharp rises are recorded Devon Energy , Oil Marathon , Occidental and Aliberton.
Among Israeli stocks, sharp declines are noticeable Zim , Siva, Kamtech, Faber , Gilat andNova .
Three generic drug companies, among them also Taro The Israeli will pay $ 447 million to complete civil proceedings in the price coordination case, the US Department of Justice announced. Taro’s share is about $ 213 million, Sandoz will pay $ 185 million and Apotex $ 49 million. Taro previously paid $ 206 million for the settlement of the legal proceedings, and at the same time it was reported that it would pay the amount of $ 213 million subject to approvals, for the settlement of the civil proceedings.
“Conspiracy to raise the price of generic drugs is illegal and could prevent patients from being able to get the prescription drugs they need,” the statement said.
The US administration claims that between 2013.2015 the companies coordinated drug prices, supply matters and customer allocation, thus benefiting from payments they did not receive. Other companies are involved in the affair, and Teva’s name has also been mentioned in the past but it has not yet reported a compromise agreement.
Sharp rises in the price of oil. Brent’s contract climbs about 3% and trades around $ 82 a barrel.
Dr. Gil Befman, Leumi’s chief economist, and economist Benyahu Bolotin of Leumi Capital Markets refer in their weekly review to the rise in natural gas prices and its effect on oil prices: ” In the wake of Hurricane Ida. The White House continues to talk with international oil producers, including OPEC, about the importance of maintaining competitive markets and the regular supply of oil in order to allow the economic recovery to continue. And their impact on economic activity. At the same time, the U.S. administration continues to release oil from strategic inventory. “
“The rise in the price of natural gas is expected to divert demand for oil, which will support high oil prices and may even lead to a further increase, if supply does not increase accordingly, which will increase the market deficit. Medium, with the passing of natural gas shortages, oil prices are expected to fall back, particularly against the background of the expected increase in OPEC + and US oil production.
In their estimation, “It is likely that by the end of the year oil prices will remain high and the price drop will be during 2022. When the natural gas crisis is not resolved in the coming months then it is likely that the price of oil will fall in the second half of 2022. “Steam 2 and if it supplies enough gas to Europe that will reduce the price of natural gas there and prevent the transition of demand for natural gas to oil, then it is possible that prices will fall already in the first half of 2022”.
New York Trade Day opened with slight declines. The leading indices retreated 0.2% .0.5%. Stock Modern Continues the negative momentum and falls by another 7%.
On the other hand, Tesla Jumps by 3% after the company reported the delivery of about 241,000 vehicles in the last quarter.
The Israeli AutoTech Company Autonomous Bounces 12% in early trading on Wall Street. also Productivity Network Prominent for the positive with a 6% increase, when on the other hand IceCure Medical Decreases by 5% andZim Sheds 2.8%.
Redhill Updates on new information from Phase 2/3 trial with opaganib showing 62% reduction in mortality and significant improvement in additional indices with statistical significance.
Unlabux Reports the publication of an article in Frontiers in Immunology magazine that includes clinical data from a Phase 1b clinical trial of the company at Allocetra for the treatment of patients with sepsis. The data indicate a strong safety profile and significant improvements in the score of serial organ failure index, duration of intensive care hospitalization, and mortality rate in 10 patients treated with Allocetra compared with patients in the control groups.
Swedish carmaker Volvo.owned Chinese carmaker is considering a $ 25 billion IPO in Stockholm.
The trend in Europe has changed and now the major stock exchanges are trading at slight price increases. Potassium and Kak indices are up 0.2%, and Dax is trading steadily.
Wall Street futures still signal that trading day will open in declines. In pre.trade, Israeli productivity is rising by 5%, while Zim and Safe.T are losing ground. Also, the modern pharmaceutical company is down 3% in early trading, while Merck – which recently announced it would seek FDA approval for the drug to be swallowed to Corona – is climbing at a similar rate.
British software giant Marlowe plc is up 2% after it was reported that it was acquiring VinciWorks, a Jerusalem.based regulatory company (Ragtech), in a deal valued at at least NIS 235 million (£ 54 million).
The Hong Kong Hong Kong index closed down 2.4%, with the most notable declines being Shiomi and Alibaba, which lost about 3.7% each.
In the oil market, the declines have weakened and now Brent oil costs about $ 79 a barrel.
British Telecom is down more than 6% in London this morning after it was reported in the British media that SKY will connect to it for fiber optic services, after it was reported that it had withdrawn from Virgin Media’s fiber distribution.
Trading in Europe opened with price declines, and the German Dax and French CAC indices lost about 0.5% each. The British Potassium Index is down 0.1%.
Trading in Hong Kong continues to decline, and the Hang Seng Index retreated 2.3%.
In the commodity market the trend is mixed. While both types of oil weaken by about 0.5%, natural gas climbs 3.5%. Gold is trading steadily.
Trading in Japan closed down, with the Nikkei down nearly 1.1%. Those who stood out during the day were Mitsubishi Bank (which lost 1.5% in the high trading volume of the index), Nippon which fell more than 7%, Kawasaki which fell 8% and the giant corporation Mitsui which lost 7.5%. On the other hand, the Tokyo Electric Company and the Mitsubishi car company rose by 5%.
Chinese Evergrand will sell half of its holdings in its asset management unit to Hopson for more than $ 5 billion, Reuters reported this morning, after the two companies sought trading breaks ahead of the big deal. The deal stems from the real estate giant’s difficulty in dealing with $ 305 billion in liabilities, having already missed two bond interest payments in the past two weeks.
Hopson will acquire 51% of Evergrand’s asset unit for more than Hong Kong $ 40 billion (US $ 5.1 billion).
Scope of projects and finances that Evergrand manages astronomically: These are about 800 construction projects that the company is currently leading across China simultaneously and 1.6 million apartments that it has already sold and has not yet delivered to customers. It employs 200,000 people directly, and indirectly creates more than 3.8 million jobs each year. The company also operates in the electric car, mineral water and sports business. In 2010 she acquired the Guangzhou City Football Team, and later brought Alibaba into partnership with her on the team.
In Asia, partial trading is taking place this morning as the stock exchanges in China will be closed for most of the week (will resume operations on Friday) for the holiday, and the markets of South Korea are also closed today.
Meanwhile, the Nikkei index in Tokyo is losing about 1% in light of significant declines in Nippon, Mitsubishi Bank, Toyota, Kawasaki, Softbank Group and Mitsui Corporation. On the other hand, the Tokyo Electric Company and Mitsubishi Motors are strengthening by about 4.5%.
The Hang Seng index is down 2.1%, with Shiomi losing about 4%, and Bank of China, Petruchina, Sino Biopharma, Ping and Alibaba are also losing ground. Trading in Chinese Evergrand shares has been halted and has not started today, after the company missed two bond interest payments in recent weeks.
On the other hand, there are increases in the stock exchanges of Sydney, Indonesia and India.
Futures on the Wall Street indices are also losing ground this morning, signaling a decline of 0.2% .0.3% with the opening of trading in New York. At the same time, the US government bond market has seen slight increases and the yield on the 10.year bond has risen to 1.47%.
New York.based tobacco company Philip Morris International has announced the completion of its acquisition of Fertin Pharma, which develops and manufactures innovative wellness and pharmaceutical products for approximately $ 820 million. “As part of building our channel for smokeless products and eliminating burning cigarettes and while expanding our long.term business to areas beyond tobacco and nicotine, we welcome the contribution of Partin Pharma’s management and employees to Philip Morris,” said Global Philip Morris CEO Jacek Olchak. “The future of Philip Morris focuses on health, science, technology and sustainable business practices, to provide innovative products and solutions designed to improve lives and create a positive impact on society.”
The crypto market is stable with slight downward fluctuations. Bitcoin is trading for $ 47.7 thousand, Ether for $ 3,360.