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| During the third week of November, trading on the Tel Aviv Stock Exchange (TASE) was marked by a mixed trend.
The TA-25 index, which rose 1% during the week, completed a cumulative year-to-date increase of 63%. The TA-75 index did not change this week, after a cumulative year-to-date return to 139%. This stellar performance can be attributed to the sharp increase in share prices of companies involved in the discovery of gas, in two sites off Israel’s Mediterranean shore, earlier this year.
The large real estate companies advanced 1%, while the major finance companies did not change and the hi-tech companies decreased by 0.5%.
The Israeli treasury raised an additional US $300 million this week in a local government bond issue. Since the beginning of the year, the government has raised approximately US $16 billion - 10% higher than the amount raised during the entire year of 2008.
Figures released this week by Israel's Central Bureau of Statistics indicates that the rate of economic growth rose in Q3/2009 in 2.2% (in annual terms), after an increase of GDP in about 1% the previous quarter and a drop of 3.2% in Q1 of this year. The Bank of Israel annual estimation is that the GDP will remain unchanged during 2009.
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