Weekly Review: August 8-12, 2010

Trading on the Tel Aviv Stock Exchange (TASE) during the second week of August was marked by high volatility and declines in most leading indices, in keeping with the global trend.

The TA-25 index which decreased 0.8% this week is currently at its level from the beginning of the year. This follows an increase of 75% in 2009.

The TA-100 index which dropped 1.3% over the week is still lower by 1.3% from its level at the beginning of this year, after a sharp increase of 89% in 2009.

The Tel Tech-15 index dropped 4.5%, followed by the Real Estate-15 index with a 2% drop.

Five real estate companies raised US $100 million this week in public bond offerings. The total of public and institutional bond issues since the beginning of the year comes to US $7 billion, compared with US $9.3 billion raised in all of 2009.

The Israeli treasury raised US $260 million this week in a local government bond issues, bringing the 2010 total to US $8.8 billion after total of US $17.4 billion raised in 2009.