Weekly Review: 17- 21 July 2011


  The third week in July ended up for all leading TASE share price indices.
  • The TA-25 index, which increased 1% over the week, is still 4.7% lower than its beginning-of-the-year level, following a 16% increase in 2010.
  • The TA-100 index gained 0.7% over the week, trimming the year-to-date loss to 6.4%, following a 15% increase in 2010.
  • The TA Banks and the TA Real Estate-15 indices increased 2.5% and 1.2% respectively, while the TA BlueTech 50 index gained 0.5% this week.
  • The Treasury floated government bonds on the local market equaling US $315 million. The year-to-date total of government bond issues comes to US $9 billion, as opposed to US $15.2 billion for the entire 2010 year.
  • The Central Bureau of Statistics released inflation figures indicating a 0.4% increase in the CPI in June and a 2.2% increase during the first half of 2011.
  • The Central Bureau of Statistics adjusted economic growth estimates. According to the adjustment, the economy grew an annualized 4.6% during the first quarter of 2011, as opposed to the original estimate of 4.8%, and by 7.7% in Q4/2010.
  • The Bank of Israel’s Composite State-of-the-Economy index increased by 0.2% in June and by 1.8% in the first half of 2011. The increase in this index indicates the continuing expansion of economic activity in Israel, however at a slower pace than that recorded in previous quarters.
  • The NIS/dollar exchange rate on July 21 came to 3.428, a weekly decrease of 0.3%. Since the beginning of the year, the NIS has appreciated 3.4% against the dollar, after appreciating 6% in 2010.
  • The NIS/Euro exchange rate on July 21 came to 4.8522, decrease of 0.2% over last week. The Euro has appreciated 2.4% against the NIS since the beginning of the year, after depreciating 12.9% in 2010.