Weekly Review: 22 - 26 December 2013

      
 
22 - 26 December 2013
 
 
Trading on the Tel-Aviv Stock Exchange (TASE) during the fourth week of December ended up  for all leading TASE indices.
Companies continue to raise capital through shares and debt offerings
 
 
 
TA-25
The TA-25 index increased 0.8% over the week, bringing year-to-date increase to 12.5%.
 
TA-100
The TA-100 index increased 1.1% over the week, bringing year-to-date increase to 15.2%.
 
TA- Technology
The TA- Technology index increased 3.9% over the week, bringing year-to-date increase to 6.6%.
 
 
Share Offerings
BAZAN-Oil Refineries raised US $150 million in a rights offering to existing shareholders.
Since the beginning of the year the business sector has raised US $1.7 billion through share offerings, as opposed to US $0.9 billion in 2012.
 
Corporate Bonds
Three public bond offerings were completed this week, raising a total of US $165 million.
Since the beginning of the year the business sector raised US $9.8 billion in corporate bond offerings, as opposed to US $10.3 billion in the entire 2012 year. Real estate companies stand out, accounting for 47% of this sum.
Government  Bonds
This week the Ministry of Finance (MoF) floated US $0.2 billion government bonds in an offering on the local market. 
Since the beginning of 2013 the MoF raised US $18.2 billion in public bond offerings as opposed to US $21.3 billion in 2012.
Interest Rate
The Bank of Israel kept the interest rate for January 2014 unchanged at 1% for the fourth consecutive month.
Composite State-of-the-Economy Index
The Bank of Israel released figures indicating that the Composite State-of-the-Economy index increased 0.2% in November,
Economic Growth Forecast
The Bank of Israel released its macroeconomic forecast which estimates a GDP growth of 3.5% in 2013, and project 3.3% and 3.2% growth for the years 2014 and 2015 respectively.
 
 
Sector Indices
 
WEEK
YTD
TA Bluetech-50
2.6%
 9.1%
TA Banks
2.5% 
17.0%
TA Real Estate-15
2.0%
 24.3% 
 
Foreign Exchange
 
WEEK
YTD
Dollar/NIS
-0.7%
-6.5%
Euro/NIS
-0.3%
-2.8%
 
 
 
 
 
 
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.