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On June 2nd, oil prices stabilized after posting their biggest gain in nearly a month; meanwhile, uncertainty surrounding the prospects for US-Iran peace talks exacerbated the risk of a prolonged disruption to energy supplies from the Persian Gulf. According to US media, Trump stated that a memorandum of understanding between the US and Iran regarding the reopening of the Strait of Hormuz is expected to be reached within the next week. However, he also pointed out that the US still needs to "finalize several details" before a final agreement is reached. Last month, oil prices had fallen somewhat, boosted by market optimism that an agreement was likely. The day before, news broke that Iran had halted negotiations with the US, threatened to close the Bab el-Mandeb Strait, and planned a complete blockade of the Strait of Hormuz. Rebecca Babin, senior energy trader at CIBC, said, "If more signs emerge that the parties are no longer actively negotiating, then the safety cushion (expectations of the best outcome) that the market previously relied on in pricing will disappear." She added, "Weve seen too many back and forths during this conflict; nothing is set in stone at this point."The number of confirmed Ebola cases in the Democratic Republic of Congo has risen to 321.Market news: Sevastopol, a city in Crimea (currently under Russian control), will implement fuel rationing on Tuesday.Workers at Inpex Corp’s Ichthys liquefied natural gas export project in Australia will strike as negotiations between union members and the company have stalled.Ukrainian local authorities are urging Kyiv residents to seek shelter; air raid sirens have been sounded in Kyiv.

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.


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