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On November 11th, economists at ABN AMRO stated in a report that the politicization of US institutions and pressure on independent agencies under the Trump administration pose a risk to the dollars dominance as the global reserve currency. They pointed out that the decline of US institutions has continued rapidly since the beginning of the year, raising serious concerns about the reliability of the dollar reserve system. The White House is firing oversight agencies, prosecuting political opponents, dismantling regulation, and restructuring institutions in a deeply partisan manner. They stated that this raises questions about whether the US can continue to maintain its rule-abiding, diversified institutions and strong markets—factors that attract investment to the US and support the dollar.On November 11, a Turkish prosecutor called for a more than 2,000-year prison sentence for Istanbul Mayor Ekrem Imamoglu in a corruption case, potentially barring President Erdogans strongest challenger from running in the next presidential election. The 3,900-page indictment names 402 suspects and describes Imamoglu, the most prominent opposition figure, as the "founder and leader of a criminal organization." Charges include bribery and accepting bribes. Following the news, the Turkish stock market plummeted, with Istanbuls benchmark index falling 3.1% by the afternoon local time. The index is heading for its biggest one-day drop since early September.Russian Foreign Minister Lavrov: Russia is ready to discuss its concerns with the United States regarding Russias "suspicious underground activities."Russian Foreign Minister Sergey Lavrov: Russia is concerned about the United States claim that it will use nuclear tests for geopolitical purposes.Russian Foreign Minister Lavrov: It is possible that the new Strategic Arms Reduction Treaty could be extended for another year at any time before it expires on February 5.

At Market Close, Israeli Stocks Are Higher; The TA 35 Is up 1.20 Percent

Aria Thomas

Jan 09, 2023 10:21

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The Real Estate, Insurance, and Communication sectors pushed the Israeli stock market higher on Sunday evening.


At the closing of trading in Tel Aviv, the TA 35 was up 1.20 percent.


Alony Hetz Properties and Investments Ltd (TASE:ALHE) had the greatest performance on the TA 35 during the session, gaining 6.67 percent, or 240.00 points, to finish at 3,840.00. In late trading, Teva Pharmaceutical Industries Ltd (TASE:TEVA) jumped 5.44 percent, or 190 points, to $3,680.00, whereas Energix (TASE:ENRG) rose 4.84 percent, or 54 points, to $1,169.00.


OPKO Health Inc (TASE:OPK) had the lowest performance during the day, down 1.10 percent, or 4.90 points, to close at $440.00. Bank Hapoalim (TASE:POLI) declined 1.02%, or 33.00 points, to end the day at 3,206.00, while First International Bank of Israel Ltd (TASE:FIBI) declined 0.96%, or 140.00 points, to 14,370.00.


The ratio of advancing to declining equities on the Tel Aviv Stock Exchange was 348 to 134, with 28 stocks remaining constant.


The price per barrel of crude oil for delivery in February climbed by 0.08%, or $0.06, to $73.73. Brent oil for March delivery decreased 0.11 percent, or $0.09, to $78.60 per barrel, and the Gold Futures contract for February increased 1.62 percent, or $29.90, to $1,870.50 per troy ounce.


USD/ILS declined 1.06 percent to 3.51, while EUR/ILS held steady at 3.73.


The US Dollar Index Futures fell 1.13 percent to 103.64.


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