Shares on the Tel Aviv Stock Exchange are on the rise amid cautious optimism about a new US-led proposal to end the war in Gaza.
Tel Aviv Stock Exchange’s benchmark TA-125 index gains 2.3 percent in late morning trading, recouping the 1.5% it has fallen this month. The index is still up over 26% from the start of the year.
The TA-35 index of blue-chip companies rises 2.1%. The TA-90 index, which tracks the shares with the highest capitalization not included in the TA-35 index, leaps 2.9%, and the TA-Insurance index soars 5.3%.
“Prime Minister Benjamin Netanyahu’s visit to the US over the weekend is fueling investor expectations for a pathway to a ceasefire deal to end the prolonged war in Gaza,” IBI investment house chief economist Rafi Gozlan tells The Times of Israel.
But investors could be in for a bumpy ride depending on how the proposals shake out, he warns.
“We are likely to see a more volatile market in the coming days as the real test for the materialization of the proposals is still ahead of us when Netanyahu returns from the visit,” Gozlan says.
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