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| The second trading week of January on the Tel Aviv Stock Exchange (TASE) was marked by decline in most leading indicators.
The TA-25 index decreased this week 1.7%, after 2% gain during the previous week and following the 75% rate of return attained in 2009. The TA-75 index didn't change this, following a 5.5% increase in the previous week and a total increase of 150% in 2009.
The TA-Banks index of Israel’s five largest commercial banks stood out, dropping 4% over the week, followed by the index of large real estate shares losing 1.8%, while the Tel Tech-15 index of large technology companies, didn't change.
The Bank of Israel published its macro-economic forecast for 2010. The forecast for growth in 2010 has been adjusted upward to 3.5% from a previous forecast of 2.5% (and estimated 0.5% in 2009). Unemployment is expected to fall to 7% during 2010 – approximately 1% lower than the 2009 unemployment rate.
Israel’s Ministry of Finance sold 5% of Bank Discount, a TA-25 index company, to institutional investors through Deutsche Bank for US $ 120 million.
The Israeli treasury raised US $505 million this week in a local government bond issue.
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