Stocks in Israel at 5-Month High as Iran Strike Recedes

Israeli stocks trading in New York climbed to the highest level since October amid speculation sanctions on Iran are reducing prospects Israel will take military action against the Persian Gulf nation’s nuclear sites.

The Bloomberg Israel-US Equity Index (ISRA25BN) of the largest Israeli companies traded in New York rose 2.2 percent to 90.04 yesterday, the highest level since Oct. 28, led by Teva Pharmaceutical Industries Ltd. (TEVA) and Check Point Software Technologies Ltd. (CHKP) The TA-25 Index in Tel Aviv added 1.9 percent to 1,148.96, also a five-month high.

Read details: Bloomberg Business Week

Posted in: Business, Iran, Israel, Stock