Weekly Review: 18/9- 22/9/2011


Trading on the Tel Aviv Stock Exchange (TASE) in the third week of September closed with price decreases in all leading share price indices.
  • The TA-25 index, which decreased 1.7% over the week, is currently 21.7% lower than its level at the beginning of the year. This follows a 16% increase in 2010.
  • The TA 100 Index was down 2.3%, is 23.7% lower than its beginning-of-the-year level, after increasing 15% in 2010.
  • The TA BlueTech-50 and TA Banks indices decreased 3.7% and 3.3% respectively, while the TA Eastate-15 index fell 0.8%.
  • The Government of Israel floated bonds on TASE equaling US $400 million. Since the beginning of the year the government raised US $11.9 billion in local bond issues, as opposed to US $15.2 billion over the entire 2010 year.
  • Israel’s Central Bureau of Statistics (CBS) released August inflation figures this week, indicating a 0.5% increase in the Consumer Price Index, bringing the year-to-date inflation level to 2.4%.
    Similarly, GDP figures for the first half of 2011 indicate a 5.1% (annualized) rate of growth, following a 5.7% growth rate in the previous semester and 5.6% growth in the first half of 2010.
  • The Bank of Israel Composite State-of-the-Economy index for August, like the two previous months, rose 0.3%. This increase signals the continued expansion of Israel’s economic activity, albeit at a slower pace than in the first quarter of 2011.
  • The NIS/US dollar exchange rate on September 22 came to 3.721, a weekly increase of 1.8%. Since the beginning of the year, the dollar appreciated 4.8% against the shekel, after depreciating 6% in 2010.
  • The NIS/Euro exchange rate on September 22 came to 5.0049, retreating 0.8% over the week.  Since the beginning of the year, the Euro appreciated 5.6% against the shekel, after depreciating 12.9% in 2010.