The Limited Times

Now you can see non-English news...

Because of the Minister of Finance? Trading on the stock exchange opened with declines in bank shares - voila! money

2023-05-31T08:51:49.707Z

Highlights: Finance Minister Bezalel Smotrich's announcement that he would act to tax the banks' profits led to a decline in the share value of the five largest banks. Leumi's share price has declined by more than 2%, Hapoalim's share by about 1.3%, Mizrahi-Tefahot and Discount shares by a similar rate of about 0.8%. Walla learned that many investors, according to a source, mainly foreign investors, are selling shares of Israeli banks.


Finance Minister Bezalel Smotrich's announcement that he would act to tax the banks' profits led to a decline in the share value of the five largest banks. Before you rejoice at them, remember that you are also the owner


The effect of the Finance Minister's declaration: a decline in bank shares (Photo: Government Press Office)

Yesterday, the finance minister dropped a bombshell: he intends to act to tax bank profits. This morning, the effect was already felt on the stock exchange, as the first hours of trading were characterized by price declines.

Trading is lively and the data are changing rapidly, but as of the moment of examination, Leumi's share price has declined by more than 2%, Hapoalim's share by about 1.3%, Mizrahi-Tefahot and Discount shares by a similar rate of about 0.8%, and International's share price by 0.7%.

Walla learned that many investors, according to the source, mainly foreign investors, are selling shares of Israeli banks. This is the place to mention that bank shares in Israel are held by the public through pension funds and other savings channels, so that when their value falls, we all lose.

Who loses when the banks get hurt? https://finance.walla.co.il/item/3582904

  • money
  • Our Money

Tags

  • Banks
  • Stock
  • Workers
  • National
  • Mizrahi Tefahot
  • International
  • Discount

Source: walla

All business articles on 2023-05-31

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.