SHARES

TEL AVIV

Israeli stocks rose, trimming the decline for 2008 to 46 percent, the benchmark index's biggest annual drop in 25 years, amid the worst global financial crisis since the Great Depression.

Africa Israel Investments Ltd. and Delek Group Ltd. were the worst performers among companies in the benchmark in 2008, on concern the two holding companies, which invest in overseas real estate, won't be able to pay back their debt after property prices plunged. The shares have slumped 91% and 86%, respectively.

The Tel Aviv-25 Index increased for a third day, adding 13.66, or 2.1%, to 654.85 at the close in Tel Aviv. Trading hours on the Tel Aviv Stock Exchange will be reduced starting today, with the close at 4:30 p.m. local time.

Bank Hapoalim rose 2%. Israel's largest bank by market value reportedly may announce the withdrawal from an agreement to buy 78% of Russia's SDM-Bank JSC within a few weeks.

Bank Leumi rose 3.8%.

Gilat Satellite Networks Ltd. rose the most in four years, gaining 22%. The satellite-equipment maker has signed new agreements with Colombia's Ministry of Communications.

WALL STREET

US stocks gained for a second day, trimming losses at the end of the market's worst year since the Great Depression, as fewer Americans filed for jobless benefits and the Treasury said it would expand aid to the car industry.

Nordstrom Inc. and Starwood Hotels & Resorts Worldwide Inc. climbed more than 8% as initial unemployment claims dropped by 94,000 last week to the lowest level in almost two months.

The S&P 500 rose 1.5% to 903.67 at 2:20 p.m. in New York, paring this year's tumble to 38%. The Dow Jones Industrial Average added 115.81 points, or 1.3%, to 8,784.2, down 34% in 2008.

EUROPE

European stock climbed, trimming the MSCI Europe Index's biggest annual decline on record, as higher metals prices and China's pledge to promote economic growth lifted commodity producers. The MSCI Europe Index fell 46% this year.

Markets in Germany, Switzerland, Italy and Spain were closed, while exchanges in the UK, France, Belgium, the Netherlands and Portugal shut early. The UK's FTSE 100 Index rose 0.9% to 4,434.17, trimming its 2008 loss to 31%, the smallest among indexes for the 20 biggest markets. In dollar terms, the UK gauge lost 49%.

Only three of 89 major indexes tracked by Bloomberg posted gains in 2008, as equities lost $30 trillion in value. Ghana's All-Share Index was the best performer, surging 60%.

ASIA

Asian stocks advanced, narrowing the regional benchmark index's biggest annual drop on record, as metals prices rose and China pledged to promote economic growth.

The MSCI Asia Pacific Index slumped 53% this year, the most in its two-decade history, as the global financial crisis dragged the world's largest economies into recession.

Japan, South Korea, Thailand, Indonesia and the Philippines were closed, while Hong Kong, Australia and Singapore shut early.

Hong Kong's Hang Seng Index climbed 1.1%, cutting its 2008 drop to 48%. Australia's S&P/ASX 200 Index rose 1.9%, paring the year's loss to a record 41%.

CURRENCIES

The shekel slid to 3.7860 per dollar at 5:24 p.m. in Tel Aviv, from 3.7580 on Tuesday. The shekel climbed 1.8% versus the dollar in 2008.

The dollar gained 0.7% to $1.3955 per euro, up from $1.4057, boosting its advance this year to 4.6%.

The euro declined 2% to 95.76 British pence from 97.57 on Tuesday, when it reached a record high of 98.03 pence. Europe's currency has gained 30% versus sterling this year, the most since its inception.

COMMODITIES

Crude oil rose 13%, trimming a record annual decline, after a government report showed a smaller-than-expected gain in US fuel supplies.

Crude oil for February delivery rose $5.03 to $44.06 a barrel at the 2:30 p.m. close of floor trading on the New York Mercantile Exchange. Futures were down 54% in 2008, the first annual decline since 2001, when oil fell 26%, and the biggest drop since trading began in 1983.

Gold futures for February delivery rose $14.30, or 1.6%, to $884.30 an ounce on the Comex division of the New York Mercantile Exchange.

Gold climbed 5.5% in 2008, the smallest increase since 2004.