Tel Aviv Stock Exchange Surges Amid 'Change Government' Formation Talks
Translated & summarized from Panet by baba
The Tel Aviv Stock Exchange saw significant gains on Thursday, with major indices rising between 2.1% and 3.1%, following positive statements about forming a new "change government." The dollar also saw fluctuations, reaching a high of 3.22 shekels before settling lower. President Yitzhak Herzog is set to decide by Sunday who will be tasked with forming the government, with party leaders expressing cautious optimism and emphasizing the need for flexibility.
The story in 5 lines · by baba
- Tel Aviv Stock Exchange indices surged by up to 3.1% amid "change government" formation talks.
- President Yitzhak Herzog will decide by Sunday who gets the mandate to form the next government.
- Dollar reached 3.22 shekels, its highest since December 2025, before retreating.
- Avigdor Lieberman stressed the need for flexibility and concessions on issues like conscription.
- Yair Golan expressed optimism, citing "real progress" in forming a "change government."
Following a significant decline the previous day, the Tel Aviv Stock Exchange experienced a notable surge on Thursday, buoyed by statements from "change bloc" leaders indicating genuine progress in forming a new government. The Tel Aviv 35 index rose by 3.1%, the Tel Aviv 125 by 3%, and the Tel Aviv 90 by 2.1%.
In the foreign exchange market, the dollar initially climbed to 3.22 shekels, its highest point since December 2025, before retreating to trade around 3.19 shekels. The euro reached 3.60 shekels before falling back to 3.57 shekels.
President Yitzhak Herzog is expected to announce on Sunday his decision on whether to task Gadi Eisenkot or Prime Minister Benjamin Netanyahu with forming the government, following two days of recommendation sessions with party representatives.
Efforts to establish a "change government" appear to be accelerating. Avigdor Lieberman, head of the Yisrael Beiteinu party, stated that flexibility and concessions on issues like the mandatory conscription law are necessary for government formation. United Torah Judaism, while welcoming any proposal, noted that no concrete offer has been made yet, according to party head Yaakov Asher.
Yair Golan, leader of the Democratic Party, expressed optimism about the government's formation, citing "real progress" without specifying the involvement of any ultra-Orthodox parties. He posted on X (formerly Twitter) that despite difficulties, "real progress" is being made daily to translate election results into a "change government."
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