Subscribe to Print Edition | Tue., September 23, 2008 Elul 23, 5768 | | Israel Time: 01:35 (EST+7) web haaretz.com   Back to Homepage Haaretz Toolbar Diplomacy Defense Jewish World Opinion National Print Edition Car Rental Books Haaretz Magazine Business Real Estate Easy Start Travel Week's End Anglo File

Tel Aviv stocks soar after gloomy week thanks to Bush plan, Wall St. gains By Nathan Sheva Tags: israel, TASE If you were watching the green screens of the Tel Aviv Stock Exchange yesterday, you might have thought Israel had signed a peace treaty with Syria, Hamas had recognized Israel's right to exist or Iran's Mahmoud Ahmadinejad was coming to Jerusalem to see Tzipi Livni. But none of these was the reason that after a 10% fall last week, investors returned from the weekend to celebrate one of the best days in Israeli market history. The Bush administration's $700 billion emergency rescue plan, alongside gains on Wall Street and around the world, pushed Tel Aviv up sharply. Almost all stocks took off, with major indexes up between 7% and 31%. The corporate bond indexes, the Tel-Bonds, rose between 5% and 7%, with those of major tycoons such as Yitzhak Tshuva, Lev Leviev and Nochi Dankner recovering by 20% to 28%. The Tel-Bond 20 rose 5.4%, after dropping some 9% in the past three weeks. The Tel-Bond 40 gained 7.9%. Advertisement Despite all the good news, almost all shares and bonds are still well below where they started the year. The Real Estate-15 led yesterday's parade with a gain of 33%. The Banks-5 climbed 18%. The TA-25 was up 8.4% to close at 913 points, and the TA-100 rose 10.3%. The TelTech-15 gained 11.8%. Turnover was very high for a Sunday, NIS 2.6 billion, but still lower than during recent volatile trading sessions. The biggest gainers for the day came in real estate, with Housing and Construction up 43%. Elbit Medical Imaging jumped 38%. Bank Leumi, which fell 22% last week, gained 21% yesterday. Bank Hapoalim rose 18% after losing 25% last week. The two big banks had the biggest turnover for the day, some NIS 500 million combined, 20% of the day's total. The sharp gains caused trade to be stopped twice yesterday: In the morning trading started an hour late at 10:45 A.M. after the TA-25 rose 7% in the pre-opening phase. New TASE rules delay opening trading after a 2.5% gain. The second pause came 40 minutes before the scheduled close, after the TA-25 had risen 8% for the day. Trading was extended to 6:04 P.M. from the regular 5:30 P.M. close. Trading was last halted in October 2000 - when prices dropped sharply after two Israeli soldiers were lynched in Ramallah at the beginning of the second intifada. While it was clear to everyone that yesterday marked a sharp correction, few investors think that the U.S. - and global - financial crisis has ended. Some less-than-stellar news came yesterday from the Bank of Israel's composite state-of-the-economy index, which rose 0.1% in August after holding stable in the previous months. These figures represent a significant reduction in economic growth from the first quarter of the year. Despite all the ups and downs of the past few weeks, the 3rd Annual Israeli Investor Conference, conducted jointly by Nasdaq and the Tel Aviv Stock Exchange, took place last Thursday at the Nasdaq building in Manhattan's Times Square. Major Israeli firms such as Strauss, Israel Chemicals, Delek and a number of high-tech outfits participated. Bookmark to del.icio.us   Rose laid to rest Mother, grandfather indicted for murder of 4-year-old Rose Pizem. Obama's tribute Obama lauds Olmert, says he's looking forward to working with successor.   1.   Sell into this madness 09:05  |  Clickfool 22/09/08

Read & React The speech Sarah Palin never gave: Ahmadinejad dreams of Final Solution Responses: 104 Livni offers Barak 'full partnership' in coalition Responses: 54 IDF intel chief: Iran 'galloping toward nuclear bomb' Responses: 110 Iranians in N.Y. rally: 'Ahmadinejad, why do you execute children?' Responses: 177 IDF soldier blinded in one eye after Palestinian woman throws acid at him Responses: 83 More Headlines 00:46 19 hurt as terrorist plows car into Jerusalem crowd 01:23 ANALYSIS / The latest J'lem attack - be prepared for more 01:01 Labor lays out demands for joining Livni coalition 23:39 ANALYSIS / How far is Livni willing to go to build a coalition? 00:32 Thousands attend anti-Iran rally organized by Jewish groups in New York 18:45 IDF soldier blinded in one eye after Palestinian woman throws acid in his face 18:28 Iraqi lawmaker may face death for visiting Israel, supporting peace 16:24 Can an Israeli-U.S. company save the world's dying bees? 00:28 Egypt FM: Hostages seized on a safari in Egypt released, safe 00:35 Mother, grandfather indicted for murder of 4-year-old Rose Pizem 15:42 Obama pays tribute to Olmert, looks forward to working with successor 20:01 Police: Palestinian teen killed in Yitzhar Saturday had infiltrated before 18:44 PA security forces raid West Bank office of Hamas legislator 17:43 Arab MK Al-Sana: Collaboration between our party and Livni possible Previous Editions Select Day 22 sep 21 sep 19 sep 18 sep 17 sep 16 sep 15 sep 14 sep 12 sep 11 sep 10 sep 09 sep

Special Offers Advertisement Fattal Hotel Chain Perfectly located hotels on best resorts of Israel. US CITIZENS Vote for real change. Request your ballot today! Eldan Rent a Car Israel's leading car rental company offers you a 20% discount on all online reservations Jewish Singles Personal Ads Find the love of your life on JDate.com Israel's Premier Real Estate Website www. israel-property.com Hebrew Summer courses From $39.95 ISRAEL BONDS Build Israel Israel bonds - a multi-purpose way to celebrate Israel's 60th Junkyard Junk a car - get free towing nationwide and a tax-deductible receipt

Home | TV | Print Edition | Diplomacy | Opinion | Arts & Leisure | Sports | Jewish World | Underground | Site rules |

Real Estate in Israel | Travel to Israel with Haaretz | Hotels Israel | Restaurants Israel | Tourist attractions Israel | Shops Israel

birthright Israel | Search engine marketing

Haaretz.com, the online edition of Haaretz Newspaper in Israel, offers real-time breaking news, opinions and analysis from Israel and the Middle East. Haaretz.com provides extensive and in-depth coverage of Israel, the Jewish World and the Middle East, including defense, diplomacy, the Arab-Israeli conflict, the peace process, Israeli politics, Jerusalem affairs, international relations, Iran, Iraq, Syria, Lebanon, the Palestinian Authority, the West Bank and the Gaza Strip, the Israeli business world and Jewish life in Israel and the Diaspora.

© Copyright  Haaretz. All rights reserved