Bloomberg News

ISRAEL DAYBOOK: Central Bank Will Probably Hold Interest Rates

February 27, 2012

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 ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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