Trading on the Tel Aviv Stock Exchange (TASE) in the third week of February 2011 was highly volatile, with all of the leading share price indices closing higher.
The TA-25 index, which gained 2.5% over the week, is 0.6% higher than its beginning of the year level, following a +16% return in 2010.
The TA-100 index, which rose 2.3% over the week, closed with a 0.7% year-to-date increase, following a +15% return in 2010.
The TA Banks index stood out this week gaining 5.2%. The Real Estate-15 and the Tel Tech 15 indices increased 3.3% and 1.9% respectively over the week.
Bank Hapoalim and the Mizrahi Tefahot Bank, two constituents of the TA-25 index, raised US $225 and US $140 million, respectively, in public bond offerings. The banking sector stood out last year in the scope of capital raised, which came to US $4 billion, approximately 40% of all corporate debt raised in 2010.
The Israeli government issued US $390 million bonds on TASE this week, bringing total government bond issues since the beginning of the year to US $2.4 billion.
According to data released by the Central Bureau of Statistics, Israel’s GDP increased an annualized 5.4% over the second half of 2010, jumping in the fourth quarter to 7.8% (annualized). This follows an increase of 4.4% in Q3 and 5.2% in Q2.
The Consumer Price Index increased 0.2% in January 2011, following a 2.7% annual increase in 2010.
The NIS/US dollar exchange rate on 17 February came to 3.613, declining 2.2% over the week. Since the beginning of the year the dollar appreciated 1.8% against the shekel, after depreciating 6% in 2010.
The NIS/Euro on the 17 February came to 4.8956, declining 2.2% over the week. Since the beginning of the year the Euro appreciated 3.3% against the shekel after a depreciating 12.9% in 2010.
