It looks like the trend for Israeli investors to park their money in short-term bank deposits, has slowed. According to an article in Globes: “The Bank of Israel reported that assets held in banking accounts fell by 4.7% and deposits and in particular short term deposits, which plunged by NIS 11 billion. In contrast there was a 6% increase in investments by Israelis in TASE-listed stocks (NIS 230 billion in January 2009 compared with NIS 227 billion in December 2008) and on overseas stock exchanges (NIS 210 billion in January 2009 compared with NIS 198 billion in December 2008). There was also an increase of NIS 13 billion (5.7%) over this period in the index-linked tradable bonds held by Israelis.”

Part of this also has to do with the outperformance of the local Tel-Aviv Stock Exchange with a positive performance this year.

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With all bottled water companies now getting the green light to start bottling and selling their water again, the figures are in and some companies took a bath.

According to Globes: “Bottled water company Eden Springs Ltd. (Maayanot Eden) (TASE: MEYD) today notified the Tel Aviv Stock Exchange (TASE) that it expects NIS 22-25 million in lost revenue and NIS 10 million in lower earnings before interest, taxes, depreciation and amortization (EBITDA) due to the temporary halt in pumping of water from the company’s spring. The company added that future financial losses could be greater, but that it cannot estimate them at this time. Last month, the company stopped pumping water, after a routine test discovered levels of microbial contaminants exceeded the permitted standard. Rival bottled water company Neviot - Nature of Galilee Ltd. (TASE: NVIO) also suspending pumping from its well for the same reason. The Ministry of Health has now ruled that Eden Springs’ spring water is compliant with the standards, and has allowed it to resume pumping and marketing of its water.”

As a customer of Neviot, it was tough over the last month as the company barely had any water to bring the office. Heaven forbid we could drink water from the tap!

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“We’re not quite sure whether they’re going to do anything or maybe just skip June,” Ester Levanon, chief executive officer of the Tel Aviv Stock Exchange, said in an interview reported in the Jpost Sunday. “They may not want to change anything because of the global situation.”

Though they seem to deny it, the MSCI may delay the Israeli upgrade to developed nation status, due to the global economic crisis. Last June MSCI said that within 12 months they will make a decision whether to move Israel up from emerging market status. Apparently those at the TASE are worried even though the MSCI continues to hold their position of announcing a decision in the 12 month time frame.

Responding to questions about this issue, “MSCI Barra will continue to monitor the situation and continue consultations and announce its conclusion no later than June 2009,” the index provider said in an e-mail in response to questions from Bloomberg News today.”

It would sure seem odd for those at the TASE to be worried. Unless of course they know something that the rest of us don’t.

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Remember when we heard that stock exchanges were going to be open 24 hours a day 6 or 7 days a week, and that insomniacs would have an outlet instead of watching I Love Lucy reruns? Well it doesn’t look like it’s going to happen. Believe it or not a labor dispute and union strike are the cause in Israel, where the Tel-Aviv stock exchange plans on cutting down trading hours.

According to a report in Globes: “Shorter trading days in March and April, which resulted from a labor dispute, showed that trading volume did not fall despite the shorter hours. As a result TASE CEO Ester Levanon appointed a committee to examine the issue. Levanon said, “A review by the committee showed that most stock exchange members support a shorter day, and see it resulting in lower costs and employee satisfaction. Exchange members do not expect a drop in trading volume, nor of foreign investor activity.”

I guess something good actually came out of a labor dispute!

Trading in Tel- Aviv will start at 9:00 am instead of 8:30 am, and will end at 4:00 pm. Welcome back ‘Bankers hours!”

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