Live Update 
From the Liveblog of
Sunday, August 25, 2024
From the Liveblog of
Sunday, August 25, 2024
Tel Aviv stocks gain 2% after Israel’s preemptive strike on Hezbollah
Illustrative: View of the Tel Aviv Stock Exchange. (Courtesy)
Key Tel Aviv share indices close about 2% higher, with the blue-chip index touching a record high after an Israeli preemptive strike against Hezbollah curbed a potential rocket barrage by the group against key targets in Israel.
The blue-chip Tel Aviv 35 index (TA-35) ended 2% higher at 2091.6 points, after hitting an intraday peak of 2091.91, while the broader TA-125 rose 2.1%.
“The trading day began after the publication of the extensive preemptive strike launched by the Air Force early in the morning, which prevented the launch of missiles towards strategic targets in Israel,” says Yuval Tzuk, an economist in the bourse’s research department.
He says share gains were also helped by growing expectations of US interest rate cuts.
