TA 135 also jumped 2.74% • International published positive reports and jumped more than 7% • Housing prices expected to decline after the crisis • Despite the emergency: No export damage in the world
Tel Aviv Stock Exchange // Photo: Gideon Markovich
The Corona effect continues to affect the market, and yesterday another tumultuous trading day was recorded on the Tel Aviv Stock Exchange.
After a strong opening of demand, there was also a wave of realizations that pulled the indices down a percentage of more and more, but shortly thereafter the trend changed and the stock market plunged until the end of trading.
TA 35 jumped 3.6% and TA 125 jumped 2.74%. Shares of the food chains led by about 14% to Supersal, 7.5% to Victory and 6.3% to Johannoff. The fuel group recovered and plunged by more than 7% after very difficult weeks during which it lost about 80%.
The international released its positive reports yesterday that led its stock to jump 7%. The international presented reports of a 18% increase in profit to NIS 865 million, with a return on equity of more than 10%. Fashion and shopping stocks were down: Melisron fell 6.7% and Fox 9.5%.
Investors yesterday weighed the positive news overseas about a spike in New York that resulted in a positive closing of more than 9% there, along with the fact that the country's restrictions on the market had been toughened. Branches such as tourism, hotels, events, restaurants and cafes lose billions of shekels every week. These are baffled losses, as opposed to temporary losses.
Long range of injury
According to Alex Zabzhinsky, Chief Economist of Best Dash, "China has taken about 10 days from imposing restrictions on population movement until the number of daily new patients reaches a peak and the beginning of the downward trend. Globally, the Israeli government's response in the economic sphere has been relatively minor for the time being, and has concentrated on fiscal matters. "In the meantime, the Bank of Israel has not taken any practical steps, even though the decline in bond yields in Israel was sharper than in most markets in the world, and the shekel was among the weakest currencies."