ISRAEL AT WAR - DAY 149

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TASE surges, shekel rises 2% on news of Gallant, Netanyahu statements

Sharon Wrobel is a tech reporter for The Times of Israel.

The Tel Aviv Stock Exchange, December 25, 2018. (Adam Shuldman/Flash90)
The Tel Aviv Stock Exchange, December 25, 2018. (Adam Shuldman/Flash90)

Israeli stock indices close higher and the shekel gains after both Prime Minister Benjamin Netanyahu and Defense Minister Yoav Gallant announced they will make statements tonight.

Gallant is expected to call for a halt to the judicial overhaul legislation.

The Tel Aviv Stock Exchange’s benchmark TA-125 index rises 2.1% and the TA-35 index of blue-chip companies adds 1.8% at the close, according to TASE data.

The TA-Bank index, which tracks the five largest banks, jumps 3.6%.

The shekel appreciated more than 2% against the US dollar. That’s after the local currency weakened more than 6% in February amid growing investor concern that the government is determined to press ahead with contested changes to weaken the judicial system.

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