Tel Aviv Stock Exchange Shares Close Sharply Higher Despite Trade-war Worries

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Business in Brief: Resuming trading after a long holiday weekend, shares on the Tel Aviv Stock Exchange fared well despite expectations of a down-turn Tel Aviv Stock Exchange shares shrugged off worries about a global trade war and a Wall Street sell-off over the weekend to close sharply higher on Sunday. Resuming trading after a long holiday weekend, the benchmark TA-35 index closed up 1.8% at 1,416.93 points, while the TA-125 gained 1.6% to 1,290.90, on relatively heavy trading of 741 million shekels ($209.6 million). All but three shares on the TA-35 ended higher. Bank stocks paced the gains, with Hapoalim and First International both finishing 2% higher at 23.93 and 71.72 shekels, respectively. Insurance shares were the only sector to end lower as Harel slumped 2% to 25.47. Modiin dropped 8.35% to 7.10 after reporting that its $1 million Mountain View oil well came up dry. Tel Aviv Stock Exchange Shares Close Sharply Higher Despite Trade-war Worries

thumbnail courtesy of haaretz.com

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