Tel Aviv Stock Exchange Surges on Coalition Hopes After Lieberman and Golan Statements
Translated & summarized from NEWSru Israel by baba
The Tel Aviv Stock Exchange saw a sharp rise on Friday, November 6, following statements by Avigdor Lieberman and Yair Golan suggesting a potential coalition government. Key indices like TA-35 and TA-125 increased by around 3%, with specific sectors like banking and insurance showing even stronger gains. This growth occurred against a backdrop of significant declines in global stock markets.
The story in 5 lines · by baba
- Tel Aviv Stock Exchange indices surged on November 6 due to coalition formation signals.
- TA-35 and TA-125 indices rose approximately 3% by midday.
- Banking and insurance indices saw gains of 3.7% and 5.3% respectively.
- Avigdor Lieberman signaled readiness for compromises on ultra-Orthodox conscription.
- The rise contrasted with major drops in global markets like Nasdaq and S&P 500.
On Friday, November 6, the Tel Aviv Stock Exchange experienced a significant surge in its main indices. This rise was attributed to statements made by Yisrael Beiteinu leader Avigdor Lieberman and Democratic Party leader Yair Golan, which were interpreted as indicators of a potential new government formation. By midday, the TA-35 and TA-125 indices had climbed approximately 3%, the banking index rose by 3.7%, the insurance companies index by 5.3%, and the construction companies index by 4.3%. The market's positive reaction was particularly influenced by Lieberman's declaration of willingness to make difficult compromises, including on the issue of ultra-Orthodox conscription, to form a 61-seat coalition without the participation of Arab parties. Positive signals were also received from Yair Golan. This upturn on Israeli markets occurred despite a negative trend in global markets, with the Nasdaq falling 5.5% and the S&P 500 dropping 4.3% the previous day. On Friday, stock markets in Tokyo and Seoul also saw declines exceeding 6%.