Weekly Review: May 29 - June 2, 2011

Equity trading on TASE this week ended with decreases in most leading share price indices.
  • The TA-25 index, which decreased 0.8% over the week, is 7.4% lower than its beginning-of-the-year level, following a 16% increase in 2010.
  • The TA-100 index decreased at a similar rate over this week, is off 8.8% from its beginning-of- the-year level, after a 15% increase in 2010.
  • The TA Banks index gained 1.7% while the TA Bluetech-50 and Real Estate-15 indices decreased 0.5%.
  • The Bank of Israel adjusted 2011 growth estimates upwards to 5.2% from the previous 4.5% estimate. In 2010 growth came to 4.6%. Israel’s central bank also published positive employment forecasts, anticipating that unemployment will drop from the 2010 level of 6.6% to 5.8% in 2011.
  • The Treasury floated government bonds on the local market equaling US $350 million. The year-to-date total of government bond issues comes to US$ 6.8 billion, as opposed to US$ 15.2 for the entire 2010 year.
  • The NIS/dollar exchange rate on June 2th came to 3.406, marking a weekly decrease of 1.9%. Since the beginning of the year, the NIS has appreciated 4.0% against the dollar, after appreciating 6% in 2010.
  • The NIS/Euro exchange rate on June 2th came to 4.9302 sliding 0.4% over the week against the NIS. The Euro has appreciated 4.1% against the NIS since the beginning of the year, after depreciating 12.9% in 2010