Weekly Review: 24 July - 28 July, 2011

Trading on TASE in the fourth week of July ended lower for all leading share price indices.
  • The TA-25 index, which lost 2.4% over the week, is currently 7.1% lower than its level at the beginning of the year. This follows a 16% increase in 2010.
  • The Tel-Aviv 100 Index declined 2.5% rate this week, ending 8.7% lower than its beginning-of-the-year level, after increasing 15% in 2010.
  • The TA-Banks and TA Real Estae-15 indices were off 3.2% and 3.5% respectively over the week, while the TA Blue-tech 50 Index declined 2.9%.
  • The Governor of the Bank of Israel left interest rates for August unchanged  at 3.25% for a third consecutive month following a four-time cumulative 1.25% interest rate increase since the beginning of the year.
  • The government of Israel floated US $360 million government bonds this week, bringing the year-to-date total of government bond issues on the local market to US $9.4 billion. This compares with US $15.2 billion raised in 2010.
  • Figures released by the Central Bureau of Statistics indicate that the unemployment rate fell further to 5.7% in May, as opposed to the 2010 annual average of 6.6%. The decrease in unemployment this year represents a continuation of the trend started in July 2009 – at which time unemployment came to 7.7%.
  • The NIS/US dollar exchange rate on 28 July came to NIS 3.43, a weekly gain of 1.2%. Since the beginning of the year, the dollar has depreciated 3.4% against the NIS, after depreciating 6% in 2010.
  • The NIS/Euro exchange rate on 28 July came to NIS 4.9018, up 0.3% from last week. Since the beginning of the year, the Euro has appreciated 3.5% against the NIS, after depreciating 12.9% in 2010