Contrary to popular belief amongst the uninformed-- war is NOT good for business!
Israeli Shares Rise Most Since December After Gaza Truce Agreed
Israels TA-25 Index climbed the most in almost nine months a day after Hamas said it accepted an Egyptian-brokered cease-fire to end the seven-week conflict in the Gaza Strip. Government bonds gained.
The index advanced 1.4 percent to close at 1,408.54 in Tel Aviv, the biggest increase since Dec. 1. The shekel strengthened 0.1 percent to 3.5658 against the dollar at 5:55 p.m. local time, while yields on the governments benchmark debt due March 2024 dropped 2 basis points to 2.48 percent.
Theres a broad rally in the market on the back of the truce with Hamas, Joel Kirsch, a trader at Psagot Investment House Ltd., said by telephone from Tel Aviv today. The market has underperformed during the last 50 days of clashes, and has some catching up to do.
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