Weekly Review December 6-10, 2009

Trading on the Tel Aviv Stock Exchange (TASE) during the second week of December was marked by a mixed trend.
 
The TA-25 increased 0.5%, bringing the cumulative year-to-date increase to 71%. The TA-75, which fell 1.5%, continued to stand out with cumulative year-to-date gains of 139%. This stellar performance can be attributed to the sharp increase in share prices earlier in the year of shares involved in the discovery of gas in two sites off Israel’s Mediterranean shore.
 
Shares of the major financial institutions raised by 1.5%, the large real estate concerns didn't change while the Tel Tech-15 index of key high-tech companies lost 2%.

Six new ETNs, the first to track the “Tel-Bond Shekel” index of non-linked fix-interest shekel-denominated bonds launched by TASE the week before. Today some 365 series of index-tracking products trade on the TASE with public holdings valued at $11.3 billion.

The Israeli treasury raised an additional US $335 million this week in a local government bond, bringing the year-to-total to $16.6 billion, 15% more than the amount raised in 2008.