Fox stock jumps 13% on strong report
Tel Aviv stocks were mixed yesterday, following a pullback on Wall Street on Friday. The benchmark Tel Aviv-25 index edged up 0.1% to
think 1,164 points and the broader TA-100 index gained 0.4% to 1,071 points.
The Banks-5 added half a percent and real estate shares powered ahead, relatively speaking, with a gain of 1.7%, propelled by a 4.7% jump in Africa Israel Investments shares.
Today the Bank of Israel will be announcing its monetary policy for September. Analysts generally concur that it won't be raising its overnight interest rate, but will leave it unchanged at 1.75%. Inflation is under control, given the 0.5% gain in the consumer price index in July, they explain. From the start of the year the CPI has risen by 1.1% and in the last 12 months, by 1.8%.
In other words, inflation is smack in the middle of the target range, roughly speaking - though Bank Leumi's economist Gil Bufman says much of
think that figure is due to the surge in housing prices. Without that, inflation is lower than people think, he said.
