Tel Aviv Shares Open Higher Despite Netanyahu Draft Indictment

Israeli stock market had been closed since attorney general announced he intends to indict the prime minister

File photo: A man stands in front of an electronic board displaying market data at the Tel Aviv Stock Exchange in Israel, January 29, 2017.
Baz Ratner/Reuters

Israeli shares opened higher on Sunday morning, shrugging off news that the country’s attorney general intends to indict Prime Minister Benjamin Netanyahu on corruption charges.

The blue chip Tel Aviv 35 and the broader TA-125 indices were both up 0.5 percent at 8 A.M. The stock market had been closed since the announcement was made late on Thursday.

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U.S. markets closed higher on Friday.

Israeli government bond prices were down as much as 0.4 percent.

The shekel weakened 0.2 percent to 3.6297 per dollar on Friday. The currency market is closed on Sunday.

An actual filing of the charges of bribery, fraud and breach of trust would depend on the outcome of a required hearing. At that hearing – likely after an April 9 electionNetanyahu can try to persuade the attorney-general not to indict him.

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