Israel ETF Rises As Central Bank Double Dips On Rate Cuts
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The iShares MSCI Israel Capped Investable Market Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Israel Capped Investable Market Index.
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Tuesday, Feb 253:31 AM
Tuesday, Feb 253:31 AM| Comment!
- The Bank of Israel has unexpectedly lowered its benchmark interest rate by a quarter of a percentage point to 0.75%, the first cut in five months.
- The BOI cited lower-than-expected inflation, consumer pessimism and "disappointing" U.S. economic data.
- "We are not yet close to a recession, but we're moving in that direction," said Rafi Melnick, a member of the BOI's monetary policy committee. "There was certainly the concern of unemployment developing." (PR)
- The Tel Aviv 25 is flat.
- ETFs: EIS, ISRA
Sunday, Dec 12013, 2:23 AM
Sunday, Dec 12013, 2:23 AM| 2 Comments
- Fitch has affirmed Israel's rating at A, the sixth highest, and increased the country's outlook to positive, citing a falling deficit.
- "The new government has turned around the fiscal position and is committed to a credible medium-term program for further deficit reduction," Fitch said. (PR)
- ETFs: EIS, ISRA
Tuesday, Aug 272013, 11:07 AM
Tuesday, Aug 272013, 11:07 AM| Comment!
- ETFs focused on Middle East stocks are down across the board as the situation in Syria escalates. After John Kerry accused the regime of using chemical weapons on Monday, President Obama may begin laying the groundwork for strikes by releasing intelligence evidence to the public as soon as later today.
- Middle East: MES -2.9%, GULF -2%, GAF -1.6%
- Israel: EIS -3.3%, ISRA -2.4%, ISL -2.7%
- Turkey: TUR -5.7%
Wednesday, Jun 262013, 9:58 AM
Monday, Jun 242013, 3:49 AMIsraeli Prime Minister Binyamin Netanyahu has nominated Jacob Frenkel, the Chairman of JPMorgan Chase International, to succeed Stanley Fischer as the Governor of the Bank of Israel. Frenkel will need the approval of a judge-led committee and the full cabinet. He has already served as the head of BOI once before, from 1991-2000, when he is credited with bringing down high inflation and liberalizing financial markets. Tel Aviv shares (EIS) are -0.4%. |Monday, Jun 242013, 3:49 AM| Comment!
Monday, May 272013, 10:43 AM
Monday, May 132013, 8:28 AMAlarmed by the quick appreciation of the shekel and noting the wave of central bank easing worldwide, the Bank of Israel doesn't wait for its next policy meeting to cut its benchmark rate 25 basis points to 1.5%. The bank also announces it plans to sell shekels to offset any appreciation likely to come about from the beginning of natural gas production at the Tamar field. The Israel stock ETF (EIS) +7.6% YTD. |Monday, May 132013, 8:28 AM| Comment!
Sunday, Mar 312013, 4:57 AMIsrael has started production of natural gas from its offshore Tamar field, taking the country further along the road towards energy independence. The news is also a boon to the companies who have been developing Tamar - which holds 10T cubic feet of gas - including Noble Energy (NBL) and Delek Group (DGRLY.PK). |Sunday, Mar 312013, 4:57 AM| 3 Comments
Friday, Mar 222013, 4:29 AMPresident Obama's historic visit to Israel (which continues through today) appears to have sparked Israeli markets, in the midst of a global sell-off. iShares MSCI Israel (EIS) is +1.03% over the recent 5-day period, with global counterparts trailing behind over the same period: SPY -1.51%, EFA -1.51%, ACWI -1.62%, EEM -3.14%. |Friday, Mar 222013, 4:29 AM| Comment!
Tuesday, Jan 292013, 9:04 AM
Monday, Dec 312012, 11:51 AMMore details on iShares' ETF fee hikes: Going to 0.61% from 0.59% (a 3.4% hike) are its Chile Investable Market Fund (ECH), China Small Cap Fund (ECNS), Indonesia Investable Market Fund (EIDO), Israel Capped Investable Market Fund (EIS), Philippines Investable Market Fund (EPHE) , Poland Investable Market Fund (EPOL), All Peru Capped Fund (EPU), Taiwan Fund (EWT), South Korea Fund (EWY), Brazil Fund (EWZ), Brazil Small Cap Fund (EWZS), South Africa Fund (EZA), Thailand Investable Market Fund (THD) and Turkey Investable Market Fund (TUR). |Monday, Dec 312012, 11:51 AM| 2 Comments
Monday, Dec 242012, 10:46 AM
Thursday, Nov 152012, 11:54 AM
Monday, Jul 232012, 11:10 AMThe Bank of Israel holds its benchmark interest rate at 2.25% for August, saying that inflation expectations for the next year are near the midpoint of its 1%-3% target range. In particular, the increase in the CPI housing component has moderated or stopped. Economic growth during H1 seems to have stabilized at just under 3%. (PR) |Monday, Jul 232012, 11:10 AM| Comment!
Monday, Jun 252012, 10:41 AMThe Bank of Israel cuts its benchmark rate 25 basis points to 2.25%, citing inflation "below the center" of the 1-3% target range, and, of course, nodding to slowing worldwide growth and the risks from Europe. The Bank expects Israeli growth to continue at the moderate pace of 3%. |Monday, Jun 252012, 10:41 AM| Comment!
Monday, Jan 232012, 10:58 AMThe Bank of Israel cuts its key interest rate by 0.25 percentage point to 2.5%, citing inflation that's under control, declining house prices, and a slowdown in economic activity and demand. Israeli exporters also faces weakness and uncertainty in the global economy, particularly in Europe. Shekel +0.1% vs. the dollar. (PR) |Monday, Jan 232012, 10:58 AM| Comment!
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