Israeli Benchmark Index Sees Gains After Three-Day Plunge
Israeli Stocks Post Worst Four-Day Decline in More Than a Decade
(Bloomberg) -- Israeli stocks closed up Tuesday, recovering from a three-day plunge exacerbated by Prime Minister Benjamin Netanyahu’s coalition vote to dissolve the parliament and move up elections by seven months.
The TA-35 bounced back from the decline as 30 index members advanced, with Bank Hapoalim Ltd. and Bank Leumi Le-Israel BM seen as the biggest contributors to gains.
Tuesday’s performance followed the steepest fall in more than seven years on Sunday, as drugmaker Perrigo declined the most on record due to concern over a $1.8 billion tax assessment.
- Index added 2.11 percent. It is down 4 percent for the year.
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To contact the reporter on this story: Filipe Pacheco in Dubai at fpacheco4@bloomberg.net
To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, Gwen Ackerman, Michael S. Arnold
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