Weekly Review: 23 - 27 June 2013

 
 
23 - 27 June 2013
 
 
Trading on the Tel-Aviv Stock Exchange (TASE) during the fourth week of June ended down for all stock indices.
Primary market activity brisk as companies raise capital in equity and corporate debt offerings.
 
 
 
TA-25
The TA-25 index decreased 1.8% over the week, bringing year-to-date increase to 0.3%.
 
TA-100
The TA-100 index decreased 1.7% over the week, bringing year-to-date increase to 2.0%.
 
TA- Com
The TA-Com. index of communications companies stood out and increased 1.1% over the week and bringing returns since the beginning of 2013 to 10.4%.
 
 
 
Share Offerings
Four companies raised US $110 million this week in public share offerings, including the real estate company, Amot Investments, which raised    US $79 million.
Since the beginning of the year the private sector has raised   US $0.9 billion equity, with real estate companies accounting for 58% of the total raised.
Corporate Bonds
Five companies raised US $120 million in public bond offerings this week. Since the beginning of the year the business sector raised US $5.3 billion through bond offerings. Real Estate companies stood out, raising 42% of the total.
 
Government Bonds
This week the Ministry of Finance (MoF) floated US $0.5 billion government bonds in an offering on the local market. 
In total the Treasury raised US $9.4 billion in the first half of the year, as opposed to US $21.3 billion in 2012.
BOI Interest Rate
The Bank of Israel left the July 2013 interest rate unchanged at 1.25%, after twice lowering the rate by 0.25% in May.
 
Composite State-of-the  Economy Index
Figures released by the Bank of Israel indicate that the Composite State-of-the-Economy index rose by 0.1% in May 2013, pointing to the continuation of the economic slowdown.
 
 
 
 
Sector Indices
 
WEEK
YTD
TA Bluetech-50
  -1.0%
 -4.1%
TA Banks
  -2.9%
 -1.3%  
TA Real Estate-15
   -0.4%
 13.3%
 
Foreign Exchange
 
WEEK
YTD
Dollar/NIS
0.6%
-2.3%
Euro/NIS
-0.9%
-3.5%
 
 
 
 
 
 
Facts & Figures
The Tel-Aviv Stock Exchange features in May 2013:
·   521 companies listing equities (Ex. ETNs).
·   452 index-tracking products.
·   35 series of government bonds.
·   80 Series of Institutional bonds.
·   641 series of corporate bonds.
·   1,245 mutual funds.
·   Market Cap. (US$ billions)
o    Equities - 173
o    Government bonds – 127
o    Corporate bonds - 103
About TASE
Established in September 1935, the Tel-Aviv Stock Exchange is Israel’s sole securities exchange, offering an increasingly sophisticated range of products to investors, including equity, corporate bonds, treasury bills and notes, index products and derivatives.
International
In recent years, TASE has enhanced its international presence, signing Memoranda of Understanding with the London Stock Exchange, NASDAQ, NYSE-Euronext the Shanghai Stock Exchange, and Toronto Stock Exchange.