Stock indices on the Tel Aviv Stock Exchange are rising strongly this morning following the announcement of a ceasefire between Israel and Iran. After a barrage of missiles early this morning, in which four people in Beersheva were killed, the ceasefire largely appears to have taken hold, although a single missile was fired at northern Israel at around 10:30 today, and the minister of defense has ordered the IDF to respond. The indices fell yesterday after five straight sessions of rises last week, but today the market appears to be resuming its upward march.
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The Tel Aviv 35 Index is currently up 1.54%, the Tel Aviv 125 Index is up 1.73%, and the Real Estate Index is up 3.88%.
The banks are leading the rises, with Bank Leumi up 2.39%, Bank Hapoalim up 2.92%, and Discount Bank up 2.77%. Elbit Systems, however, is down 3.73%.
As the price of oil falls sharply following the ceasefire, Navitas is down 7.64%.
On the foreign exchange market the shekel has strengthened further, with the exchange rate against the US dollar now at NIS 3.4039/$, 1.15% lower than yesterday’s representative rate. Earlier this morning, the rate dipped below NIS 3.4/$. Against the euro, the rate is currently NIS 3.9325/€, 1.25% lower than yesterday’s representative rate.
Commenting on the ceasefire and the foreign exchange market, Or Poria, founder and CEO of Poria Financial Planning, said this morning, “The developments represent a following wind for the shekel, which is strengthening substantially against the basket of world currencies. The exchange rate against the dollar, which is under pressure against the euro and the pound sterling, has reached a low that testifies to the renewed confidence of investors in Israel’s financial stability. Our forecast remains as it was. In the medium and long term too we estimate that the shekel will continue to strengthen against the major currencies, in the light of the removal of the strategic threat, the fall in Israel’s risk premium, and the dramatic improvement in Israel’s geopolitical standing.”
Published by Globes, Israel business news – en.globes.co.il – on June 24, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
