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On June 7th, AstraZeneca CEO Robert Soriot warned that, given the terms of its agreement with the Trump administration to reduce drug costs for US patients, the pharmaceutical giant may be forced to suspend the launch of new drugs in the UK and Europe if it cannot secure higher drug prices. Soriot stated that European countries must increase investment in innovative drugs, otherwise the Anglo-Swiss joint venture will have no choice but to focus almost entirely on the US market, as nearly half of its revenue comes from the US.On June 7th, Eli Lilly (LLY.N) announced the results of a trial of its next-generation weight-loss drug, Retatrutide, to medical experts. The results showed that in addition to promoting weight loss and relieving knee pain, the drug can also reduce the severity of sleep apnea. In a phase 3 clinical trial, Eli Lilly found that once-weekly injections of Retatrutide reduced symptoms of moderate to severe obstructive sleep apnea by 60.6% in obese adult patients. In the same trial, Eli Lilly also found that the drug reduced pain in patients with knee osteoarthritis by up to 73.1%.On June 7th, the Nansha District Government and Baoan District Government of Guangzhou signed a strategic cooperation framework agreement. The two districts will promote comprehensive cooperation in multiple areas, including industrial collaboration, technological innovation, talent exchange, infrastructure, and a high-quality living environment, jointly creating a new model of coordinated development in the Greater Bay Area and supporting the high-quality development of the "Golden Inner Bay." In the area of peoples livelihood, the two districts will pilot projects in areas such as sharing high-quality educational resources, cross-regional medical cooperation, mutual recognition and interoperability of social security rights, and cross-regional use of housing provident funds.On June 7th, German Chancellor Merz stated at the CDU state party congress in Mecklenburg-Western Pomerania that despite disagreements within the ruling coalition on some issues, the coalition still possesses the ability to "push forward reforms and maintain unity and cooperation." He believes that the current difficulties can be overcome, and Germany is expected to show a new development trend in a relatively short period of time. When discussing key reform areas, Merz mentioned digitalization, streamlining administrative procedures, improving infrastructure, and ensuring energy supply. He stated that Germany has the potential to build a more efficient railway transport system, enhance data transmission capabilities, and maintain international competitiveness in modern climate protection technologies. Furthermore, Germany also has the capability to build one of the most powerful conventional armed forces in Europe.On June 7th, it was learned from the Hainan Provincial Housing Provident Fund Management Bureau that, in order to standardize the management of individual housing provident fund accounts and improve data quality, the bureau will conduct a cleanup of "one person, multiple accounts" among contributors. According to reports, during a special investigation, the bureau discovered that some contributors had "one person, multiple accounts" (multiple accounts under different names using the same ID number). According to the "Housing Provident Fund Management Regulations," each employee can only have one housing provident fund account. The bureau has issued a notice reminding relevant contributing units and contributors to proactively verify their account details from June 6th to June 20th.

At market close, Israeli equities dropped; the TA 35 index declined 0.64 percent

Aria Thomas

Jul 05, 2022 11:10


The Israel stock market declined on Monday evening, with losses in the Banking, Insurance, and Financials sectors leading the slide.


At the market's close in Tel Aviv, the TA 35 fell 0.64 percent.


During the session, Energix (TASE:ENRG) had the best performance on the TA 35, collecting 5.27 percent of 61.00 points to end at 1,218.00. Strauss Group (TASE:STRS) jumped 2.07 percent, or 180 points, to $8,859.00 at the conclusion of trade, while Azrieli Group Ltd (TASE:AZRG) advanced 1.08 percent, or 270 points, to $25,300.00 in late trading.


Israel Corp (TASE:ILCO) ended the day with the worst performance, sliding 3.96 percent, or 6,240.00 points, to 151,260.00. ICL Israel Chemicals Ltd (TASE:ICL) closed the day at 3,097.00, down 3.07 percent, or 98.00 points, while Kenon Holdings Ltd (TASE:KEN) down 2.28 percent, or 310.00 points, to 13,310.00.


On the Tel Aviv Stock Exchange, decreasing stocks outnumbered rising stocks by a ratio of 276 to 201, with 39 remaining unchanged.


The August delivery price per barrel of crude oil increased 1.82 percent, or $1.97, to $110.40. Brent oil for September delivery rose 1.75 percent, or $1.95, to $113.58 per barrel, while the August Gold Futures contract rose 0.28 percent, or $5.00, to $1,802.50 per troy ounce.


The USD/ILS exchange rate fell 0.60 percent to 3.50, while the EUR/ILS exchange rate fell 0.64 percent to 3.65.


The US Dollar Index Futures climbed 0.07 percent to 104.98.