Tel Aviv stocks soar as investors buoyed by Gaza plan

Shares on the Tel Aviv Stock Exchange jump and the shekel appreciates on investor optimism after US President Donald Trump laid out a plan for ending the war in Gaza and bringing peace to the region.

The Tel Aviv Stock Exchange’s benchmark TA-125 index gains 2 percent off the bat in early morning trading. The index has soared about 30% from the start of the year, hitting record highs over the past weeks over hopes the war may be coming to an end.

The TA-35 index of blue-chip companies rises 1.1%. The TA-90 index, which tracks the shares with the highest capitalization not included in the TA-35 index, leaps 3.1%. The TA-Construction index increases 4.7% and the TA-Insurance index is up 4.2%.

“We are seeing positive sentiment continuing following Sunday’s share increases in anticipation of a plan to end the war in Gaza and bring back all the hostages,” Mizrahi Tefahot Bank chief markets economist Ronen Menahem tells The Times of Israel. “Investors will now be looking for more indicators and results that the plan that was presented will be accepted and put into practice.”

The shekel appreciates 0.5% against the greenback, trading at around NIS 3.30 to $1. The local currency has gained about 1% this month.