Weekly Review: 17 - 21 November 2013

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17 - 21 November 2013
 
 
Trading on the Tel-Aviv Stock Exchange (TASE) during the third week of November was mareked by a mix trend in leading TASE indices.
Companies continue to raise capital through debt offerings
 
 
 
TA-25
The TA-25 index increased 2.2% over the week, bringing year-to-date increase to 13.4%.
 
TA-100
The TA-100 index increased 1.7% over the week, bringing year-to-date increase to 15.6%.
 
 
Corporate Bonds   
Two real estate companies raised US $40 million in public bond offerings this week.
Since the beginning of the year the business sector has raised US $8.7 billion through bond offerings as opposed to US10.3 billion in 2012. Real estate companies stood out, raising 47% of the total.
 
Government  Bonds
This week the Ministry of Finance (MoF) floated US $0.4 billion government bonds in an offering on the local market. 
Since the beginning of 2013 the MoF raised US $16.8 billion in public bond offerings as opposed to US $21.3 billion in 2012.
Economic Growth
The Central Bureau of Statistics released figures indicating that the rate of growth for the third quarter of 2013 came to 2.2% (annualized), compared to 4.6% in the second quarter and 2.6% in the first quarter of 2013.
 
Consumer Price Index (CPI)
Figures released by the Central Bureau of Statistics indicate that the CPI index for October 2013 increased 0.3%. From the beginning of the year the CPI index increased 2.1%, following a total increase of 1.6% for the entire 2012 year.
 
Composite
State-of-the-Economy Index
Figures released by the Bank of Israel indicate that in October the Composite State-of-the-Economy index rose 0.2%. The pace of economic expansion in recent months reflects a moderate but steady growth.
 
 
Sector Indices
 
WEEK
YTD
TA Bluetech-50
-0.4%
4.7%
TA Banks
2.0% 
14.4%
TA Real Estate-15
-1.0%
 23.3% 
 
Foreign Exchange
 
WEEK
YTD
Dollar/NIS
1.4%
-4.4%
Euro/NIS
1.5%
-2.3%
 
 
 
 
 
 
Facts & Figures
The Tel-Aviv Stock Exchange features in October 2013:
·   513 companies listing equities (Ex. ETNs).
·   491 index-tracking products.
·   33 series of government bonds.
·   74 Series of Institutional bonds.
·   617 series of corporate bonds.
·   1,248 mutual funds.
·   Market Cap. (US$ billions)
o    Equities - 189
o    Government bonds – 135
o    Corporate bonds - 90
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.