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iShares MSCI Israel Capped Investable Market Index ETF

5/18/2013, 3:46 AM ET

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Monday, May 13, 8:28 AM Alarmed 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. Comment! [Global & FX]
Sunday, March 31, 4:57 AM Israel 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). 2 Comments [Energy]
Friday, March 22, 4:29 AM President 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%. Comment!
Tuesday, January 29, 9:04 AM Bank of Israel Governor Stanley Fischer is resigning after more than 8 years on the job. He has scheduled a press conference for tomorrow. The TA-25 index off 1.2%. The Israel stock ETF (EIS) +1.6% Y/Y. 1 Comment [Breaking News, Global & FX]
Monday, December 31, 2012, 11:51 AM More 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). 2 Comments [Global & FX]
Monday, December 24, 2012, 10:46 AM The Bank of Israel cuts its benchmark rate 25 basis points to 1.75%, noting a series of downward surprises in CPI prints. Recent reports also show economic activity continuing to slow. EIS -2.3% today, +5.2% YTD. Comment! [Global & FX]
Thursday, November 15, 2012, 11:54 AM Air-raid sirens are going off in Tel Aviv for the first time since the 1991 Gulf War. Witnesses are reporting explosions. Comment! [Global & FX, Breaking News]
Monday, July 23, 2012, 11:10 AM The 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) Comment! [Global & FX]
Monday, June 25, 2012, 10:41 AM The 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%. Comment! [Global & FX, Breaking News]
Monday, January 23, 2012, 10:58 AM The 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) Comment! [Global & FX]
Monday, November 28, 2011, 10:41 AM As expected, the Bank of Israel slashes its benchmark rate 25 basis points to 2.75%. This follows September's surprise cut. Chief among the bank's concerns is the weakening global economy, with the EU being at the forefront. Israel ETF: ISL -22% YTD. Comment! [Global & FX]
Tuesday, October 25, 2011, 12:10 PM Credit Suisse's list of countries' stock valuations, ranked by price-to-book, shows Chinese shares are cheap, clocking in even lower than at the 2008/09 lows. Only Egypt and Israel join China in trading at a cheaper valuation than the depths of the GFC. Comment! [Global & FX, Quick Ideas]
Tuesday, September 27, 2011, 8:15 AM A surprise rate cut from the Bank of Israel - which noted the global economic slowdown - may auger more easing moves from emerging markets. Brazil and Turkey have also recently surprised with cuts, and other recently tight countries like Chile and China may be next. Comment! [Global & FX]
Monday, July 18, 2011, 9:19 AM Egypt and Saudia Arabia move forward with a plan to build a 22-mile bridge spanning the Gulf of Aqaba. The new trade route is expected to boost the $3.5B in trade between the two countries, and could potentially weaken Israel's standing in the Middle East. 3 Comments [Global & FX]
Wednesday, March 23, 2011, 11:10 AM Israeli Interior Minister Eli Yishai, visiting the scene of a bus bombing in Jerusalem, calls for retaliation. "Recent events require us to take action, if we don't do this we will lose our power of deterrence." Southern Israel was hit earlier today with rocket attacks from Gaza.
2 Comments [Global & FX]
Monday, January 31, 2011, 5:34 PM Markets/ETFs that Egypt pounded last week mostly bounced today. The one exception is Israel, maybe due to monetary tightening issues. A look at last Friday's list: EGPT -7.9%. AFK -0.03%. GAF -0.9%. TUR -3.4%. ISL -1.25%. EIS -1.9%. FFD -0.9%. Comment! [Global & FX]