Israeli shares November yield outdoes Nasdaq average.

(From Israel Business Arena)

Byline: Merav Ankori

November was one of the best months this year on US stock exchanges, according to a review published today by Meitav Securities and Investments. Meitav's figures indicate that the leading indices rose sharply. The Dow Jones Industrial Average was up 5.9%, the Standard & Poor's 500 5.7%, and the Nasdaq 11.2%.

The surge took place against a backdrop of US Federal Reserve Board chairman Alan Greenspan lowering of the interest rate from 1.75% to 1.25% on November 6, the publication of more positive macroeconomic data, and the market feeling that the double dip is behind us.

According to Meitav, the Israeli shares not only kept pace with these events, they outstripped them. A Meitav summary of the performance by Israeli shares listed in the US and Europe shows that the Meitav New York 40 index jumped 28.7% in November, compared with 11.2% for Nasdaq.

This is the second straight monthly gain for the Meitav index, which has reached its highest point since the index was launched in October 2001. 31 out of the 40 Israeli shares included in the index had better yields than Nasdaq, and 20 had yields of over 20%.

The Meitav Europe 15 index also posted its second straight month in the black, with 10 out of the 15 shares posting a positive yield.