Bi-Weekly Review: 20-31 July 2014 Trading on the Tel-Aviv Stock Exchange (TASE) during the last two weeks was ended down for most leading TASE indices. Continued offerings in share and bond markets
TA-25
Share Offerings
The TA-25 index decreased 0.6% over the last two weeks, bringing year-to-date increase to 4.7%.
This last two weeks there were 2 rights issues which raised US $9 million. Since the beginning of the year the business sector raised US $1.6 billion through share offerings, after raising US $1.7 billion for the whole of 2013.
TA-100 The TA-100 index decreased 1.2% over the last two weeks, bringing year-to-date increase to 3.2%.
TA-Com The TA-Com index increased 0.8% over the last two weeks, bringing year-todate increase to 4.5%.
Corporate Bonds Six companies, including four real estate companies, made bond offerings amounting to US $330 million, led by Israel Aircraft Industries which raised US $135 million. Since the beginning of the year the business sector raised US $9.1 billion through bond offerings of which US $3.3 billion on the "TACT Institutional" system, after raising US $10.1 billion for the whole of 2013.
Government Bonds The Ministry of Finance (MoF) made public bond offerings listed on the TASE amounting to US $0.8 billion. Since the beginning of the year the MoF raised US $9.7 billion in bond offerings on the Tel-Aviv Stock Exchange, after raising US $18.2 billion for the whole of 2013.
Sector Indices 2 Week TA Bluetech TA Banks TA Real Estate-15
-3.0% -0.6% -2.6%
BOI Interest Rate The Bank of Israel lowered the interest rate, for the second time this year by 0.25% to 0.50%, starting August 2014. This is a historically low level for the interest rate that occurred also in mid2009.
Composite State-of-theEconomy Index The Bank of Israel released figures indicating that the Composite State-ofthe-Economy index increased by 0.1% in June, reflecting moderate growth in the economy similar to that of recent months.
Foreign Exchange YTD 2014 -9.2% -2.0% -0.5%
2 Week Dollar/NIS Euro/NIS
0.2% -0.9%
YTD 2014 -1.2% -4.0%