Weekly Review: August 1-5, 2010

In keeping with global trends, trading on the Tel Aviv Stock Exchange (TASE) during the first week of August was volatile, ending in gains for all leading indices.
 
The TA-25 index which increased 2.8% over the week is now higher by 0.4% from its level at the beginning of the year, following a 75% increase in 2009.
 
The TA-100 index which, rose 3.2% this week, is still off 0.3% from its level at the beginning of this year. This follows a 89% increase in 2009.
 
The Real Estate-15 index closed the week with a 3.4% increase. The Finance index and the Tel Tech-15 index, gained 1.7%.
 
Three real estate companies raised US $230 million this week in public bond offerings. The total of public and institutional bond issues since the beginning of the year comes to US $6.9 billion, compared with US $9.3 billion raised in the 2009 calendar year.
 
The Israeli treasury raised US $230 million this week in a local government bond issue, bringing the 2010 total to US $8.5 billion after total of US $17.4 billion raised in 2009.
 
Figures released this week by the Bank of Israel indicates an end to the four-month trend of foreign investors to trim positions in Israeli equities, following  MSCI’s upgrade of the Israeli market.