Bi-Weekly Review: 15 - 24 September 2013

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Bi-Weekly Review: 15 - 24 September 2013
 
 
Trading on the Tel-Aviv Stock Exchange (TASE) during the last two weeks – which, given the holidays came to only 6 trading days – ended up for all leading TASE indices.
 
 
 
TA-25
The TA-25 index increased 4.5% over the last two weeks, bringing year-to-date increase to 6.0%.
 
TA-100
The TA-100 index increased 3.8% over the last two weeks, bringing year-to-date increase to 8.3%.
 
Growth Rate
Figures released by the Central Bureau of Statistics indicate that economic growth came to 3.3% (annualized) during the first half of 2013. This compares with 3.5% in the previous semester and 3.2% in the first half of 2012
Corporate Bonds
Two companies completed bond offerings for a total sum of US $70 million.
Since the beginning of the year, the business sector raises US $7.4 billion through bond offerings. Real estate companies stood out, raising 45% of the total.
Government Bonds
In the past two weeks the Ministry of Finance (MoF) floated US $0.4 billion government bonds in offerings on the local market.  From the beginning of 2013 the MoF raised US $13.7 billion in public bond offerings as opposed to US $21.3 billion in 2012.
 
BOI Interest Rate
The Bank of Israel lowered the interest rate for October 2013 by a quarter of a percent, for the third time this year and after three months during which interest remained unchanged, to a level of 1.0%.
CPI Index
Figures released by the Central Bureau of Statistics indicate that in August 2013 the Consumer Price Index increased 0.2%.
Since the beginning of the year the CPI increased 1.8%, slightly higher than the increase for the entire 2012 year.
 
 
 
Sector Indices
 
2 WEEK Period
YTD 2013
TA Bluetech-50
2.1%
4.2%
TA Banks
3.9%
 6.2%
TA Real Estate-15
3.4%
19.4%
 
Foreign Exchange
 
2 WEEK Period
YTD
2013
Dollar/NIS
-1.1%
-5.5%
Euro/NIS
0.6%
-3.2%
 
 
 
 
 
 
Facts & Figures
The Tel-Aviv Stock Exchange features in August 2013:
·   519 companies listing equities (Ex. ETNs).
·   490 index-tracking products.
·   34 series of government bonds.
·   75 Series of Institutional bonds.
·   613 series of corporate bonds.
·   1,245 mutual funds.
·   Market Cap. (US$ billions)
o    Equities - 175
o    Government bonds – 132
o    Corporate bonds - 85
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.