Stocks resume rise, shekel strengthens further

The ceasefire between Israel and Iran has again reversed the direction of the stock market, with the banks leading the rises.

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 appears to have taken hold. 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 below 3.4 at NIS 3.923/$, 1.48% below yesterday’s representative rate. Against the euro, the rate is currently NIS 3.9325/€, 1.25% below yesterday’s representative rate.

Published by Globes, Israel business news - en.globes.co.il - on June 24, 2025.

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