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Tel Aviv Stock Exchange Surges Amid Optimism Over Government Formation
The Tel Aviv Stock Exchange experienced a sharp surge on Thursday, November 5, 2026, driven by optimism over progress in forming a new "change government" in Israel. The market rally reversed a global downward trend that had been influenced by the US midterm election results and concerns over investments in the artificial intelligence and chip sectors.
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What happened
- 01The Tel Aviv Stock Exchange surged on November 5, 2026, with the TA-35 index rising 3.09% amid optimism over forming a new government.
- 02The Israeli shekel strengthened to trade around 3.18 shekels per dollar and 3.56 shekels per euro after the dollar earlier peaked at 3.22 shekels.
- 03The market rally contrasted with sharp global declines on Wall Street and in Asian markets following the US midterm elections.
- 04Avigdor Lieberman and Yair Golan fueled optimism by reporting progress and stressing the need for flexibility on issues like conscription.
- 05United Torah Judaism chairman Yaakov Asher stated that his party has not yet received any concrete proposal for the new government.
- 06President Yitzhak Herzog will decide by Sunday, November 8, 2026, whether Gadi Eisenkot or Benjamin Netanyahu receives the mandate to form a government.
The benchmark TA-35 index climbed by approximately 3.1%, the TA-125 rose by about 3%, and the TA-90 increased by up to 2.1%. The banking sector led the gains, with the banking index jumping around 4.5%, while the insurance and construction sectors also saw significant increases. Concurrently, the Israeli shekel strengthened against major foreign currencies, trading around 3.18 to 3.19 shekels per dollar and 3.56 to 3.57 shekels per euro.
The market optimism followed positive social media posts and statements from "change bloc" leaders, including Yisrael Beiteinu chairman Avigdor Lieberman and the Democrats chairman Yair Golan, who cited real progress. Lieberman emphasized the need for flexibility and concessions on issues such as the mandatory conscription law. Meanwhile, United Torah Judaism head Yaakov Asher noted that while they welcome proposals, no concrete offer has been made yet.
President Yitzhak Herzog is expected to announce on Sunday, November 8, 2026, whether he will task Gadi Eisenkot or Prime Minister Benjamin Netanyahu with forming the next government. This decision follows two days of recommendation sessions with representatives of the political parties.
Summarized by baba from the reports of 3 newsrooms. Updated
Latest report: Walla. Read Walla’s originalThe coverage
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