TASE benchmarks rose 5% in 5772

Tel Aviv Stock Exchange rebounds from the previous year’s fall of 6%.

September 13, 2012 05:43
1 minute read.
Tel Aviv Stock Exchange

Tel Aviv Stock Exchange TASE 311 (R). (photo credit: Gil Cohen Magen / Reuters)

The Tel Aviv Stock Exchange’s benchmark TA-25 and TA-100 rose by about 5 percent in the Jewish year 5772, rebounding from the previous year’s fall of 6%, the TASE announced Wednesday in an annual review.

Share-market turnover decreased significantly in the past year, but bond-market turnover increased. There was a slowdown in raising of capital in both the share and bond markets. There was one IPO and two newly dual-listed companies.

Be the first to know - Join our Facebook page.

The TASE listed several highlights, including the May release of three new indexes that were introduced to improve the liquidity of bonds: Tel Bond CPI-linked Index, Tel Bond CPI-linked Small Cap Index and Tel Bond CPI-linked Banks Index.

The value of the TA-25 and TA-100 actually decreased by 3% in dollar terms in 5772, similar to the previous year’s figures, at a time when stocks in most developed countries rose by 10%-30%, the TASE said. However, despite the relatively poor performance of the last two years, the TA- 25 has produced a 95% return since 2005, a stronger performance than those of the Nasdaq 100, Dow Jones Industrial Average, S&P 500, 225 Nikkei, FTSE 100 and other leading indexes, it said.

The greatest global challenges of the past year, the TASE said, were: the European credit crisis and downgrading of credit ratings of developed economies and leading European banks; the Arab Spring. The greatest domestic challenges were: rising unemployment; the expanding government deficit; the Knesset’s approval of tax hikes and expenditure cuts; the strengthening (by 7.7%) of the dollar against the shekel.

On the other hand, it listed a number of positive influences on the TASE, including the success of the Nasdaq and other leading stock exchanges around the world and strong domestic economic growth.

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection


Israel Weather
  • 9 - 21
    Beer Sheva
    12 - 19
    Tel Aviv - Yafo
  • 9 - 15
    11 - 17
  • 14 - 26
    11 - 21