Trading on the Tel Aviv Stock Exchange (TASE) during the fourth week of March was marked by a mix trend for TASE indices; Continued offerings in the bond market Bank Hapoalim raised US $753 million in a public bond offering
TA-25
The TA-25 index decreased 0.4% over the week and increased 8.8% since the beginning of the year, after an increase of 10.2% for the whole of 2014.
TA-100
The TA-100 index decreased 0.7% over the week and increased 8.4% since the beginning of the year, after an increase of 6.7% for the whole of 2014.
ETN Offerings
This week 3 new ETNs were issued on share indices in the US.
Currently there are 612 ETNs traded on the TASE.
Corporate Bonds
This week Bank Hapoalim raised US $753 million in a giant public bond offering.
In addition, 2 real estate companies made public bond offerings this week amounting to US $70 million.
Since the beginning of the year, the business sector raised US $4.0 billion through bond offerings.
In 2014 the business sector raised US $16.1 billion through bond offerings on the TASE.
Share Offering
This week there were two public offerings and one rights issue amounting to US $5 million.
Since the beginning of the year, the business sector raised US $375 million in the share market on the TASE.
In 2014 the business sector raised US $2.1 billion through shares on the TASE.
Government Bonds
The Ministry of Finance (MoF) made a bond offering listed on the Tel-Aviv Stock Exchange this week amounting to US $0.2 billion, and since the beginning of the year the MoF raised US $2.5 billion. In 2014 the MoF raised US $14.5 billion in bond offerings on the TASE.
BOI Interest Rate
The Bank of Israel left the interest rate unchanged at 0.1% for April 2015.
Composite State-of-the-Economy Index
The Bank of Israel released figures indicating that the Composite State-of-the Economy Index rose 0.2% in February 2015, similar to its average rate of growth in 2014. In the previous months, the index increased at a faster rate reflecting mainly the recovery of the economy from the “Protective Edge” Operation.
Macro-Economic Forecast
The Bank of Israel formulated a macro-economic forecast for the Israeli economy, according to which GDP is expected to grow by 3.2% in 2015 and 3.5% in 2016, and the interest rate in the economy will remain unchanged at 0.1% until the end of 2015.
Sector Indices
|
|
WEEK
|
2015 |
|
TA Tech-Elite |
-3.7% |
15.5% |
|
TA Banks |
2.5% |
3.8% |
|
TA Real Estate-15 |
2.2% |
17.8% |
Foreign Exchange
|
|
WEEK
|
2015 |
|
Dollar/NIS |
-2.7% |
1.4% |
|
Euro/NIS |
0.3% |
-8.1% |
|
|
|
|
Facts & Figures
The Tel-Aviv Stock Exchange features in February 2015:
- 471 companies listing equities.
- 616 Exchange Traded Notes.
- 29 series of government bonds.
- 74Series of Institutional bonds.
- 604 series of corporate bonds.
- 1,328 mutual funds.
- Market Cap. (US$ billions)
o Equities - 204
o Government bonds – 128
o Corporate bonds – 80
