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.

Never miss breaking news on Israel
Get notifications to stay updated
You're subscribed
Register for free
and continue reading
Registering also lets you comment on articles and helps us improve your experience. It takes just a few seconds.
Already registered? Enter your email to sign in.
Please use the following structure:
Or Continue with
By registering you agree to the terms and conditions. Once registered, you’ll receive our Daily Edition email for free.
Register to continue
Or Continue with
Log in to continue
Sign in or Register
Or Continue with
check your email
Check your email
We sent an email to you at .
It has a link that will sign you in.