Al Mayadeen English

"Israel’s" financial markets came under pressure in the first trading session after "Israel's" legislative elections on October 27, as major Tel Aviv indices fell and the shekel weakened against the US dollar and the euro. According to i24, the Tel Aviv 90 Index dropped by more than 3%, while the Tel Aviv 125 fell around 2%, with insurance and real estate recording losses exceeding 4%. Meanwhile, the dollar climbed to approximately 3.09 shekels from around 3.02 on election day, while the euro traded above 3.43 shekels. The declines came as exit poll results left neither political camp with a clear majority, raising the prospect of prolonged coalition negotiations and continued uncertainty. However, the immediate market downturn does not necessarily signal sustained weakness: a Tel Aviv Stock Exchange study covering 10 election cycles since 2003 found that average five-month returns for the Tel Aviv 125 Index were similar after inconclusive and decisive elections.