Israel Leads Mideast Stock Gains After Global Rally on Friday
- The TA-35 advances as much as 4.8%; Gulf markets also climb
- Emerging-market assets rose last week on U.S. reopening steps
A stock market ticker displays financial information and world time zones in the lobby of the Tel Aviv Stock Exchange.
Photographer: Rina Castelnuovo/Bloomberg
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Middle Eastern stocks rose on Sunday following a rally in emerging-market assets at the end of last week as the U.S. outlined steps to reopen its coronavirus-shuttered economy.
Israel’s TA-35 rose 4.8%, with Israel Discount Bank and Mizrahi Tefahot Bank rising more than 11% as of 3:27 p.m. local time, as the country eases its lockdown. Gauges in Dubai, Abu Dhabi, Bahrain, Saudi Arabia, Qatar and Kuwait advanced between 0.5% and 3%. MSCI Inc.’s index of developing-nation stocks strengthened 1.9% on Friday.