Weekly Review January 17-21, 2010

Trading on the Tel Aviv Stock Exchange (TASE) in the third week of January was marked by gains in all leading indices.
The TA-25 index which gained 0.8% this week completed a return of 1% since the beginning of the year, yet remained 7% lower than the record level attained in October 2007.
The TA-75 index gained 2.5% this week, bringing the year-to-date total to 8% and following soaring returns of 150% in 2009.
The large Tel-Tech index shares stood out this week with a 3% increase, followed by the major finance companies and the leading real estate and indices, which increased 0.7%.
The Israeli treasury raised US $420 million this week in a local government bond issue, bringing the 2010 total to US $930 million.
Israel’s Central Bureau of Statistics published the December 2009 CPI index, which remained unchanged and closed 2009 with a 3.9% inflation rate - 1% higher than the target ceiling set by the government. In addition, a survey of the labor force released this week indicates that unemployment continues to fall, dropping to 7.4% in November from 7.9% in May 2009.
The large investment bank, Morgan Stanley adjusted its growth forecast for Israel by 1%, bringing the rate of growth projected for 2010 to 3.7%.