Israel’s stocks and shekel jump after Israel and US strike Iran
Israel’s Tel Aviv Stock Exchange closed at a new all-time high on today.
The TA-35 Index surged 4.61% to finish at a record level. The broader TA-125 index also hit a fresh peak, jumping 3.85%.
The rally came as global markets tanked. Asian stocks fell sharply and Wall Street futures pointed down. But Tel Aviv went the other way.
The shekel strengthened against major currencies. It gained 1.93% against the dollar and 2.76% against the euro.
Insurance stocks led the charge. Clal, Harel, and Menorah Mivtachim all jumped more than 9%. Banks and defense companies also saw heavy buying.
Trading volumes hit very high levels as investors piled in. Energy stocks were the only laggards, slipping slightly.
The record close caps an incredible run. The TA-35 has nearly doubled since the October 7, 2023 Hamas massacre caused an initial crash.
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