Tel Aviv shares climb after release of all living hostages

Shares on the Tel Aviv Stock Exchange’s main indexes rise as trading opens following the release of all living hostages held captive by the Hamas terror group in Gaza.

The benchmark TA-125 index gains 1.1 percent. The index has soared more than 37% from the start of the year, hitting multiple record highs over the past weeks on hopes for a ceasefire agreement between Israel and Hamas to end the war in Gaza and release all remaining hostages.

The Tel Aviv bourse was closed for trading on October 13 on the eve of the Simchat Torah Jewish holiday, when freed Israeli hostages were reunited with their families after two years of captivity in Gaza.

“Positive momentum will be limited unless we see progress on the full implementation of the ceasefire agreement,” IBI chief economist Rafi Gozlan tells The Times of Israel. “Following the end of fighting and start of release of hostages, advancement from here to the second phase of the agreement is less clear and will be more challenging.”

The TA-35 index of blue-chip companies rises 1.2%. The TA-90 index, which tracks the shares with the highest capitalization not included in the TA-35 index, increases 0.7%. The TA-Technology jumps 2.3.% and the TA-Construction index is up 2.4%.

The shekel is also strengthening, appreciating by some 0.5% against the greenback and trading at NIS 3.29 to $1.