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| After two weeks of descending prices and profit-taking, during the second week of November the Tel Aviv Stock Exchange (TASE) rose in all leading indices, in keeping with the positive trend in international financial markets.
The TA-25 index, which increased 3% over the week, completed a cumulative year-to-date surge of 61%. The TA-75 index gained 4%, bringing its cumulative year-to-date return to 139%. This stellar performance can be attributed to the sharp increase in prices earlier this year of shares involved in the discovery of gas on two sites off Israel’s Mediterranean shore.
Leading risers this week were in the major finance companies advancing 5%, while the large real estate and hi-tech companies share prices rose only by 1.5%-2%.
An interested party shareholder completed this week the selling of 18% of "Bezeq", a telecommunications company (whose shares are included in the TA-25 index), to institutional investors at the sum of US $1 billion was completed this week.
The Israeli treasury raised an additional US $290 million this week in local government bond issues. The government raised about US $15.7 billion since the beginning of the year, a sum slightly higher than the amount raised during the entire year of 2008.
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