TASE posts strong stats last month

For the first time in a number of years, the government did not issue government bonds on the stock exchange because of the tax income surplus and small redemptions expected in these months.

Following the coalition-building process and the formation of a new cabinet, overall performance at the Tel Aviv Stock Exchange rocketed during the month of April. In its monthly report, the TASE said that despite holidays during the month, the market experienced buoyant activity with an average daily turnover high of NIS 1.4 billion similar to the average turnover during the first quarter of the year, but 35% higher when compared with the same period last year. The General Index of all shares and convertibles traded on the exchange, except warrants, rose 3.7 percent, reaching a record high at the end of April - an increase of 175% from February 2003. The Tel Aviv 25 -Index and the Tel Aviv 100-Index rose by 6% - higher than the General Share Index because of the limited 9.5% weight of Teva Pharmaceutical Industries Ltd. shares on the TA-25, which fell 5%. The Tel-Tech Index, which was influenced by the 0.7% drop on the Nasdaq, suffered from a 1% fall. The average daily turnover on the bond market during the month of April came to NIS 1.5b. Index-linked bonds saw an increase of 0.8% on the back of a 1.3% rise in government bonds. Foreign currency bonds fell 2.5%, while at the same time the shekel revaluated against the dollar by 3.5%. For the first time in a number of years, the government did not issue government bonds on the stock exchange because of the tax income surplus and small redemptions expected in these months. Also during the month, Visonic, the LSE-listed manufacturer of electronic security systems,registered for trade on the TASE, joining the 34 dual-listed companies trading on the market.