Israel's stock market will be "thrust into the limelight this year," "The Sunday Times" said yesterday in market review entitled 25 ways to make a profit in 2008.
Against the backdrop of the turbulence in the markets, soaring energy prices, and fears that the US is on the verge of a recession, "The Sunday Times" asked a panel of experts how they would beat the market in view of the sharp declines which started on Friday in the US. The Dow Jones ended Friday down 1.96%, while the Nasdaq slid 3.77%, declines which triggered yesterday's sell-off on the Tel Aviv Stock Exchange (TASE).
The experts selected Israel, Russia, Brazil, and South Korea, and other markets.
"British investors have tended to ignore Israel, but its stock market will be thrust into the limelight this year when it is promoted from emerging to developed market status. The FTSE, which creates stock-market indexes, is planning to reclassify Israel in June, forcing many tracker funds to buy into the market for the first time," said "The Sunday Times."
Speaking yesterday at press conference to sum up 2007, TASE general manager Esther Levanon said the market was considering reciprocal trading agreements with bourses overseas.
"There are more than 20 Israeli companies listed on the London Stock Exchange. Technology firm BATM Advanced Communications Ltd. (LSE: BVC) is the biggest: in 2007 its shares fell 5%," "The Sunday Times" added.
Published by Globes [online], Israel business news - www.globes.co.il - on January 7, 2008
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