- Trading on the Tel Aviv Stock Exchange (TASE) during the last three weeks in September was marked by declines in all the leading stock indices, similar to the trend worldwide;
- continued offerings in the bond market.
TA-25 index
The TA-25 index decreased 6.6% over the last 3 weeks and increased 1.6% since the beginning of the year, after an increase of 10.2% for the whole of 2014.
TA-100 index
The TA-100 index decreased 6.8% over the last 3 weeks, and increased 0.9% since the beginning of the year, after an increase of 6.7% for the whole of 2014.
Share Offerings
There was a share offering to the public on the TASE amounting to US$ 7 million by Fridenson.
Since the beginning of the year the business sector has raised US$ 0.9 billion through shares on the TASE.
Corporate Bonds
Three companies raised US$ 120 million in bond offerings on the Tel Aviv Stock Exchange. Half the amount was raised by the dual-listed company Formula Systems.
Since the beginning of the year the business sector raised US$ 11.3 billion through bonds on the TASE.
Government Bonds
The Ministry of Finance (MoF) made two bond offerings listed on the TASE, amounting to US$ 0.5 billion.
Since the beginning of the year, the MoF raised a total of US$ 7.6 billion in bond offerings on the TASE.
Shortened Trading Weeks
The last three trading weeks in September were shortened weeks, totaling 8 trading days, due to the New Year holidays.
BOI Interest Rate
The Bank of Israel left the interest rate unchanged at 0.1% for October 2015.
Growth Rate
The Central Bureau of Statistics released this week a second estimate for the second quarter of 2015 indicating that GDP growth rose by 0.1% (in annual terms) compared with 0.3% in the first estimate, after an increase of 1.8% in the first quarter of 2015 and 6.1% in the last quarter of 2014.
The Bank of Israel lowered its forecast for growth of the economy in 2015 to 2.6% instead of 3.0% according to the previous estimate, slightly lower than the growth rate in 2014 (2.8%).
Composite State-of-the-Economy Index
The Bank of Israel released figures indicating that the Composite State-of-the-Economy Index rose 0.3% in August, similar to the rate of growth in the last two months.
Sector Indices
3 WEEKS 2015
TA Tech-Elite -6.7% 0.1%
TA Banks -4.8% 9.4%
TA Real
Estate-15 -4.2% 8.0%
Foreign Exchange
3 WEEKS 2015
Dollar/NIS 1.3% 0.7%
Euro/NIS 0.0% -7.5%
Facts & Figures
The Tel-Aviv Stock Exchange features in August 2015:
- 463 companies listing equities.
- 637 Exchange Traded Notes.
- 32 series of government bonds.
- 67 Series of Institutional bonds.
- 598 series of corporate bonds.
- 1,370 mutual funds.
- Market Cap. (US$ billions)
- Equities - 218
- Government bonds - 127
Corporate bonds - 82
