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Bank of Japan official: No company has clearly expressed the impact of US trade policy on capital expenditure plans.Japans manufacturing PMI for June was 50.1, up from 50.4 in the previous month.Ray Dalio, founder of Bridgewater Associates: The government needs to increase taxes and cut spending to solve deficit and debt problems.July 1, gold rose slightly in early Asian trading, supported by expectations of a rate cut by the Federal Reserve. Konstantinos Chrysikos, an analyst at Kudotrade, said: "Gold may be supported against the backdrop of low yields and dovish expectations. The market expects the United States to implement three rate cuts in the second half of this year, which may provide support for non-interest-bearing assets such as gold." Chrysikos added that concerns about the independence of the Federal Reserve may also drive investors to precious metals.July 1st news, silicon carbide semiconductor giant Wolfspeed announced on June 30th local time that it has taken the next step to implement the restructuring support agreement previously reached with major creditors. The company has voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code and expects to complete the reorganization by the end of the third quarter of this year. Wolfspeed said that after completing the above process, the company expects its overall debt to be reduced by about 70%, equivalent to a reduction of about US$4.6 billion. "By taking this step, the company is expected to better execute its long-term growth strategy and accelerate profitability." Wolfspeed will continue to operate as usual throughout the process, including delivering silicon carbide materials and devices to customers and paying suppliers in the normal manner.

At market close, Israeli stocks are up; the TA 35 is up 1.09 percent

Aria Thomas

Jul 11, 2022 10:58

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Following Sunday's closing bell, the Biomed, Oil & Gas, and Banking sectors contributed to a surge in Israel's stock market.


At the close of trading in Tel Aviv, the TA 35 rose 1.09 percent.


Maytronics (TASE:MTRN) had the best performance on the TA 35 throughout the session, increasing 3.91 percent or 184.00 points to end at 4,890.00. Bank Hapoalim (TASE:POLI) climbed 2.92 percent, or 87.00 points, to end trading at 3,065.00, while Strauss Group (TASE:STRUS) gained 2.58 percent, or 228.0 points, to 9,050.00.


Bezeq Israeli Telecommunication Corp Ltd (TASE:BEZQ) ended the day with the lowest performance, down 1.88 percent, or 10.20 points, to 532.80. Teva Pharmaceutical Industries Ltd (TASE:TEVA) finished at 2,615.00, down 0.30 percent, or 8.00 points, whilst Shapir Engineering Industry (TASE:SPEN) closed at 2,885.00, down 0.14 percent, or 4.00 points.


On the Tel Aviv Stock Exchange, advancing stocks outnumbered declining ones by a ratio of 346 to 144, with 34 stocks closing unchanged.


The price per barrel of crude oil for delivery in August increased 2.01%, or $2.07, to $104.80. Brent oil for September delivery jumped 2.39 percent, or 2.50 cents, to $107.15 per barrel, while the August Gold Futures contract increased 0.07 percent, or 1.20 cents, to $1,740.90 per troy ounce.


The USD/ILS exchange rate decreased 0.21 percent to 3.46, while the EUR/ILS exchange rate stayed unchanged at 3.53.


US Dollar Index Futures were 0.25 percent down at 106.69.


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