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The rally occurred in the final two days of the week onexpectations that the U.S. will undertake another round ofquantitative easing while China's central bank, in a surprise move,lowered its base interest rate. The TA-25 index of blue chip stocks rose 1.8% on Thursday to end at1,089.43. The TA-100 also gained 1.8% to 1,002.3. The TA Bankingindex and the Real Estate index both added 1.3%, to close at 926.43and 277.83, respectively. Turnover was on the light side, with justNIS 930 million changing hands. Among the most prominent gainers in Thursday's trading was KardanN.V., which jumped 15% on news it was buying back shares. Mellanoxalso led Thursday's rises, advancing 5.5% on heavy turnover. This week's gain broke a two-week string of heavy declines. TheTA-25 ended 2.25% high for the week and the TA-100 up 2.1%, led bya 5.6% jump in the banking index. The battered Telecommunicationsindex joined the rally, advancing 2% for the week. That stillleaves it down 55% from 12 months ago. The Oil and Gas Index added0.4%. In the fixed-income market, the Tel-Bond 20, 40 and 60 and theTel-Bond Shekel both finished 0.4% higher on Thursday. In spite of that, the bonds of Suny and Scailex - the two holdingcompanies, controlled by Ilan Ben-Dov, that own PartnerCommunications - dropped between 7% and 17%, paring back the biggains they had made the week before. The loss followed reports thatBen-Dov's sale of Partner back to Hutchison has run into oppositionby the treasury and by bondholders (see page A8 ). Government bonds also registered declines: 10-year unlinked Shaharbonds edged down 0.1%, lifting the yield to 4.43%. That compareswith 4.3% at the start of the week, a record low. Inflation-linkedGalil bonds fell 0.2% to bring the yield to 1.92%. The principal reason for Thursday's rising share prices was thedecision by China's central bank to cut its base rate 0.25percentage point to 6.31% (lending ) and 3.25% (deposits ). Themove, aimed at spurring economic growth after several months ofdeceleration, caught markets by surprise and prompted ralliesaround the world. Nevertheless, it is a sign that policymakers inBeijing are deeply concerned about the economy. In addition, the TASE and other markets were encouraged by reportsthat the U.S. Federal Reserve is weighing expansionary steps. OnWednesday, the Fed's second-highest official, Janet Yellen, laidout the case for the U.S. central bank to provide more support to afragile economy, as financial turmoil in Europe mounts. Her viewscarry great weight with Fed Chairman Ben Bernanke and suggest thatthe Fed may be close to easing policy again. On Thursday Bernankehimself offered few clues to the disappointment of the markets. El Al reported on Thursday that it was taking a $40 million,eight-year loan from Boeing, for which it will use one of its 777jets as collateral. The proceeds will be used to lease two Boeing787s, or buy at least one. El Al rose 2.8%. Delek Real Estate, which is 54%-owned by Yitzhak Tshuva, iscontinuing to offload assets. On Thursday its Delek Global RealEstate unit signed an agreement in principle to sell its right inLondon's Kincaid House, to the equivalent of NIS 330 million. DelekReal Estate, which will use its share of the proceeds to repay aNIS 276 million loan coming due, fell 0.6% on Thursday. Reuters contributed to this report. We are high quality suppliers, our products such as China Li-socl2 Battery , Alkaline Battery Chargers for oversee buyer. To know more, please visits Lithium Polymer Battery Charging.
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