Jul.17, 2012 | 6:01 AM–Stocks fell MOnday on the Tel Aviv Stock Exchange, and no one was surprised.
A long trail of poor economic data, led by the negative consumer price index announced Sunday and a drop in the figures for economic growth for the first quarter of the year, sent the market falling all day long, despite slight gains in European markets.
The TASE opened well in the red and at 4 p.m. was down over 1%, but recovered quickly and ended the day with losses of about 0.2% to 0.3%.
What stood out once again on Monday was the shekel-denominated government bond market, which responded to the June inflation figures and rose again – and yields on the unlinked bonds reached new lows. For example, 10-year Shahar bonds rose 0.7% and reached yields of only 4.013%. Inflation-linked 10-year Galil bonds rose 0.3% and yields fell to 1.94%.
The blue chip TA-25 index lost 0.2% and closed at 1,056 points. The broader TA-100 index fell 0.3% to end the day at 965 points. All the major indexes were in the red for the day. The TA-Banks fell 0.3% and has now fallen 2.4% over the past two trading sessions. The Real Estate-15 index dropped 1.1% and the Oil and Gas Exploration index plunged 3%. The BlueTech-50 index was just slightly in the red, but the Biomed index fell 0.6%…Read More>>