Weekly Review: January 9-13, 2011

Trading on the Tel-Aviv Stock Exchange (TASE) during the second week of January was marked by high volatility in share prices and mix trend.

The TA-25 index remained unchanged this week and rose by 0.7% from the beginning of the year, after posting returns of 16% in 2010. On January 12th the index reached a new record of 1337.09 points.

The TA-100 index ended the week up by 0.5%. From the beginning of the year the index rose by 1.7%, this follows a 14.9% increase in 2010.  On January 13th, the TA-100 index also reached a new record level at the value of 1244.84 points.

The Tel Tech-15 index gained 1.5% while the Real Estate-15 index and the TA-Banks index dropped by 0.4%.

8 companies completed bond offerings this week, raising US $260 million, about 58% of this amount was raised by 4 real estate companies.  In 2010 the private sector raised some US $11.5 billion in debt capital, banks and real estate companies raised about 40% and 20% of this amount, respectively.

The Israeli government raised US $450 million this week in a local government bond issues. The total of bond issues by the government in 2010 came to about US $ 15 billion, gross - like the two previous years.
 
The US dollar exchange rate on January 13 was 3.566 NIS, down 0.3% over the week. In 2010 the NIS appreciated against the US dollar by some 6%.
 
The Euro exchange rate on January 13 came to 4.7052 NIS, gaining 1.3% over the week. In 2010 the NIS appreciated 12.9% against the Euro.