Weekly Review: 8 - 12 December 2013


 
 
8 - 12 December 2013
 
 
Trading on the Tel-Aviv Stock Exchange (TASE) during the second week of December ended  lower for most leading TASE indices.
Companies continue to raise debt capital in coperate bond offerings
 
 
 
TA-25
The TA-25 index decreased 3.0% over the week, bringing year-to-date increase to 11.9%.
 
TA-100
The TA-100 index decreased 2.8% over the week, bringing year-to-date increase to 13.1%.
 
TA- Oil & Gas
The TA-Oil & Gas index decreased 6.3% over the week, bringing year-to-date increase to 7.2%.
 
TA- Biomed
The TA-Biomed index increased 2.4% over the week, bringing year-to-date increase to 28%.
Corporate Bonds
Three public corporate bond offerings were completed this week by real estate firms, raising US $135 million.
 
Since the beginning of the year the business sector has raised US $9.3 billion through bond offerings, as opposed to $10.3 billion in 2012. Real estate companies continue to stand out, raising 48% of the total.
 
Government  Bonds
This week the Ministry of Finance (MoF) floated US $0.3 billion government bonds in an offering on the local market. 
 
Since the beginning of 2013 the MoF raised US $17.7 billion in public bond offerings as opposed to US $21.3 billion in 2012.
Foreign Investors
The Bank of Israel released figures this week indicating that foreign investors acquired a net US $60 million in TASE-listed shares in October, bringing the total for 2013 to US $1.3 billion. This follows net purchases of US $410 million in 2012.
In addition, foreign investors acquired a net US $150 million Israel government bonds in October. Since the beginning of 2013 investors liquidated a net US $2.1 billion in government bond holdings as well as US $310 (net)  MAKAM T-bills.
 
 
Sector Indices
 
WEEK
YTD
TA Bluetech-50
-0.8%
 4.3%
TA Banks
-3.4% 
13.0%
TA Real Estate-15
-2.6%
 20.3% 
 
Foreign Exchange
 
WEEK
YTD
Dollar/NIS
-0.3%
-6.1%
Euro/NIS
0.6%
-1.8%
 
 
 
 
 
 
Facts & Figures
The Tel-Aviv Stock Exchange features in November 2013:
·   511 companies listing equities (Ex. ETNs).
·   495 index-tracking products.
·   33 series of government bonds.
·   71 Series of Institutional bonds.
·   623 series of corporate bonds.
·   1,246 mutual funds.
·   Market Cap. (US$ billions)
o    Equities - 196
o    Government bonds – 137
o    Corporate bonds - 89
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.