The Bank of Israel’s monetary committee, led by Governor Stanley Fischer will maintain the benchmark rate at 2.5 percent, according to all of 24 economists in a Bloomberg survey. Policymakers will announce the decision at 5:30 p.m. in Jerusalem.
WHAT TO WATCH: * The Finance Ministry is planning to sell a total of 1.55 billion shekels ($409 million) of debt at a government auction. * Israeli port workers returned to work late yesterday after an agreement brokered by the National Labor Court following a one- day strike led to resumed negotiations between the government and the Histadrut labor federation, Haaretz said. EQUITY MOVERS: * Today is the record date for Teva Pharmaceutical Industries Ltd.’s (TEVA IT) 1 shekel a share dividend, payable March 12. * Modiin-LP (MDINL IT), the gas explorer, said the regulator has extended the Gabriella/378 license until Feb. 28, 2013. The regulator also approved a work plan that has Modiin signing an agreement with a drilling contractor by July, and starting initial drilling by Dec. 1. MEETINGS: * Given Imaging Ltd. (GIVN IT), Teva and Protalix BioTherapeutics Inc. (PTLX IT) are scheduled to attend Citigroup Inc.’s Global Health Care Conference in New York. MARKETS: * The TA-25 Index declined 2.3 percent to 1,072.80. * The yield on the Mimshal Shiklit government bonds due January 2022 was at 4.65 percent. * The shekel weakened 0.7 percent to 3.7981 a dollar at 8:19 a.m. in Tel Aviv * Corn for May delivery fell 0.4 percent to $6.4150 a bushel. * Crude oil for April delivery retreated 0.4 percent to $109.36 a barrel. * Gold for immediate delivery rose 0.1 percent to $1,774.70 an ounce.
To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at firstname.lastname@example.org
To contact the editor responsible for this story: Claudia Maedler at email@example.com