In keeping with the trend in international financial markets, trading on the Tel-Aviv Stock Exchange (TASE) during the first week of November was marked by a mix trend.
The TA-25 index remained without change during the week, after a relatively high year-to-date return of 55%. The TA-75 index dropped 1.3%, yet continues to shine with a cumulative year-to-date return of 129%. These extraordinary returns stem from the sharp increase in share prices of companies involved in the discovery of gas on two sites off Israel’s Mediterranean shore, earlier this year.
Leading descending indices this week were the large real estate companies and the major finance companies sliding 3% and 2% respectively, while the hi-tech companies share prices raised 0.3%.
"Delek Group" raised US $220 million in a public bond issue this week. The "Israel Aerospace Industries", the largest aerospace and defense industry in Israel (government owned), also raised US $120 million in a public bond issue this week. Since the beginning of the year the private sector raised about US $7 billion in public bond issues - 45% higher than the amount raised in public bond issues during the entire year of 2008.
The Israeli treasury raised an additional US $320 million this week in a local government bond issue. So far this year, the government has raised approximately US $15.4 billion, slightly higher than the amount raised during the entire year of 2008.
