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On November 14th, Morgan Stanley stated that JD Healths (06618.HK) management is confident in achieving or exceeding its 2025 revenue growth target of 22% year-on-year, and has raised its adjusted net profit target to RMB 6.2 billion (previously approximately RMB 5.6 billion to 5.7 billion). Due to gross margin expansion and prudent cost control, adjusted operating profit (up 59.9% year-on-year) and adjusted net profit (up 42.4% year-on-year) are 39% and 15% higher than market expectations, respectively. Morgan Stanley maintains an "Equal-weight" rating on JD Health with a target price of HKD 60.On November 14th, Google (GOOG.O) submitted a restructuring plan to the European Commission after being fined €2.95 billion (approximately $3.42 billion) by the European Union for monopolistic practices in its ad technology business. However, the company did not propose splitting up the relevant business. In a statement on Friday, Google said, "Our proposal fully complies with the European Commissions decision while avoiding disruptive splitting measures that could harm thousands of European publishers and advertisers who rely on Google tools to expand their businesses." The company stated that it has submitted several proposals to adjust its ad technology operating model in the EU, including allowing publishers to set differentiated minimum prices for different bidders when using the Google Ads Management platform, and improving the interoperability of Google tools with third-party products to broaden customer choices. Google stated that it will continue to cooperate with EU officials during their evaluation of the proposals.South Koreas Ministry of Trade: South Korea and the United States will select an implementation plan for strategic investment by January 2029.South Koreas Ministry of Trade: South Korea and the United States signed a memorandum of understanding on a $350 billion strategic investment.Market news: Alphabets Google (GOOGL.O) has indicated its willingness to adjust its adtech business policies to comply with EU antitrust orders. Google has refused to sell parts of its adtech business, arguing that a breakup would disrupt publishers and advertisers.

At market close, Israeli equities are up; the TA 35 is up 1.79 percent

Charlie Brooks

Jun 27, 2022 11:13


Increases in the Real Estate, Banking, and Communication sectors led to a surge in Israel's stock market on Sunday evening.


At the close of trading in Tel Aviv, the TA 35 rose 1.79 percent.


Liveperson (TASE:LPSN) had the best performance on the TA 35, earning 9.87 percent or 484,000 points to end the session at 5,390.00. Strauss Group (TASE:STRS) climbed 5.02 percent, or 420.00 points, to end the trading day at 8,779.00, while OPKO Health Inc (TASE:OPKO) gained 4.75 percent, or 41.50 points, to 915.00.


Tower Semiconductor Ltd (TASE:TSEM) had the worst daily performance, sliding 0.68 percent or 110.00 points to end at 16,020.00. ICL Israel Chemicals Ltd (TASE:ICL) down 0.46 percent or 15.00 points to 3,235.00, whilst Israel Corp (TASE:ILCO) decreased 0.37 percent or 600.00 points to 160,300.00.


On the Tel Aviv Stock Exchange, advancing shares over declining shares by a ratio of 393 to 105, with 28 stocks closing unchanged.


The price per barrel of crude oil for August delivery increased by $2.79, or 2.68 percent, to $107.06. Brent oil for September delivery remained unchanged by 0.00 percent or $0.00 at $109.10 per barrel, but the August Gold Futures contract decreased by 0.09 percent or $1.70 to trade at $1,828.10 per troy ounce.


The USD/ILS fell 1.07 percentage points to 3.41, while the EUR/ILS fell 0.82 percentage points to 3.60.


US Dollar Index Futures were 0.29 percent down at 103.89.


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