Tel Aviv Stocks Surge Amid Historic Israel-Iran Ceasefire
Tel Aviv stocks soared and the shekel strengthened as a ceasefire was reached between Israel and Iran. The Tel Aviv 125 and TA-35 indices saw gains, fueled by optimism over reduced nuclear threat from Iran. Market sentiment was boosted globally, leading to a dip in oil prices and a weakened dollar.
The Tel Aviv stock market experienced a significant surge on Tuesday as the shekel appreciated to a two-year high against the dollar. This boost came shortly after Israel and Iran agreed to a ceasefire, ending two weeks of intense conflict.
The Tel Aviv 125 index and the blue-chip TA-35 both rose by 1.3% by midday, marking the sixth gain in seven sessions. Investors were buoyed by the belief that Israel had averted the imminent threat of Iran's nuclear ambitions following recent military strikes.
Globally, markets responded positively, with risk appetite increasing. The dollar weakened and oil prices fell as U.S. President Donald Trump announced the ceasefire. Analysts expect continued market gains and shekel appreciation as Israel's risk premium shrinks.
(With inputs from agencies.)
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