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Tel Aviv Stocks Fall, Shekel Weakens as Election Results Create Uncertainty
Tel Aviv stocks and the Israeli shekel fell sharply on Wednesday as preliminary election results indicated no clear majority for either the bloc led by Prime Minister Benjamin Netanyahu or the opposition. The TA-125 index dropped 2.5% and the shekel weakened 2.2% against the dollar, reversing earlier gains.
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What happened
- 01Tel Aviv stocks and the shekel dropped sharply due to uncertain Israeli election results.
- 02Neither Benjamin Netanyahu's nor Gadi Eisenkot's bloc is close to a 61-seat majority.
- 03The TA-125 index fell 2.5%, and the shekel weakened 2.2% against the dollar.
- 04Investors had bet on a government change, expecting improved foreign relations.
- 05Another election is likely if no coalition majority can be formed.
- 06Market analysts seek a stable coalition to drive economic growth.
Investors had hoped for a government change that could improve international relations. Uncertainty over coalition formation could last for months, with another election being a likely outcome if no majority is formed.
The Times of Israel publishes in English. The key points are summarized above. Read The Times of Israel’s full report from the link below.
The coverage
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Who covered it
- Left1
- Centre1
- RightNone
- HarediNone
- ArabNone
How it broke
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