Israel’s TA-25 Index Rebounds From Biggest Slump in 11 Years
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Israel’s benchmark stock index rebounded from the biggest slump in 11 years on speculation the nation’s economy will weather a credit-rating downgrade in the U.S., one of its biggest trading partners.
Israel Discount Bank Ltd., the country’s third-largest bank, jumped 4.7 percent. Strauss Group Ltd., the maker of food products including chocolate, snacks and coffee, soared the most since April 2009. The TA-25 Index gained 1.5 percent to 1,090.39 at the 4:30 p.m. close in Tel Aviv, after earlier climbing as much as 2.6 percent. The measure plunged 7 percent yesterday after Standard & Poor’s cut the U.S. credit rating.