Bi-weekly Review: May 8-19, 2011

Equity trading on TASE during the last two weeks was highly volatile, with most leading indices closing up.
  • The TA-25 index, which gained 1.3% over the two-week period, is currently 2.5% lower than its beginning-of-the-year level, following a 16% increase in 2010.
  • The TA-100 index, which increased 1.1% over the past two weeks, is off 4.1% from its beginning-of- the-year level, after a 15% increase in 2010.
  • The TA BlueTech 50 gained 1.9% while changes in the Tel Aviv Real Estate and TA Banks indices were negligible.
  • The Israeli government floated bonds on TASE equaling US $290 million, bringing the year-to-date total of new local government bond issues to US $6.2 billion.   This compares to the US $15.2 raised in 2010.
  • Israel’s Central Bureau of Statistics released a preliminary estimate of first quarter growth in 2011, which came to 4.7% (annual terms), following the 7.6% achieved in the final quarter and 4.8% in the third quarter of 2010.
  • The Consumer Price Index increased 0.6% in April, topping off a 1.3% year-to-date increase and following a 2.7%annual increase in 2010.
  • The NIS/dollar exchange rate on May 19th came to 3.49, marking a bi-weekly increase of 1.2%. Since the beginning of the year, the NIS has appreciated 1.7% against the dollar, after appreciating 6% in 2010.
  • The NIS/Euro exchange rate on May 19th came to 4.9811, decreasing 0.5% over the two-week period against the NIS. The Euro has appreciated 5.1% against the NIS since the beginning of the year, after depreciating 12.9% in 2010.