The Tel Aviv 100 Index is up 29.23% in 2009.
According to news site Bloomberg, Morgan Stanley analyst Jonathan Garner lowered his recommendation on Israeli shares to "Equal Weight" from "Overweight".
The decision could be related to the Tel Aviv Stock Exchange's (TASE) strong returns so far this year. India, which has had the best performance during the past month in the MSCI Emerging Markets Index, was cut to “Underweight” from “Equal Weight". Garner also upgraded South Africa, the worst performer during the past month in the index, to “Equal Weight” from “Underweight.”
The benchmark Tel Aviv 25 Index is up 8.94% in April, and is up 21.16% so far in 2009. The Tel Aviv 100 Index of the 100 largest stocks by market capitalization is up 29.23% in 2009.
Published by Globes [online], Israel business news - www.globes-online.com - on April 19, 2009
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