Weekly Review: January 24-28, 2010

The fourth trading week of January on the Tel Aviv Stock Exchange (TASE) was marked by decline in most leading indices.

The TA-25 index decline 1.7% this week. From the beginning of this year the index decreased by 0.8%, after a sharp rise of 75% rate of return attained in 2009.The TA-75 index dropped 1.3% over the week, yet remained 6.7% higher from his levels at the beginning of the year, after total increase of 150% in 2009.

The Tel Tech-15 index of large technology companies dropped 3.7%, followed by the major financial institutions and large real estate shares, dropping 1.5% and 0.5% respectively.

The Israeli treasury raised US $390 million this week in a local government bond issue, bringing the 2010 total to US $1.3 billion.

The Consumer Price Index for December 2009 remained unchanged, therefore Bank of Israel announced the interest rate level on February 2010, will stay 1.25%.

The Tel Aviv Stock Exchange Board of Directors approves to launch a new equity index covering the biomed sectors. Some 100 technology companies currently trade on the TASE, of which 38 are in the various biomed industries. The total market value of all biomed shares comes to approximately US$2.3 billion while the value of the free float comes to approximately US$1.1 billion.