TASE starts strong out of gate; blue chips open up 1.7% - TheStreet

The Tel Aviv Stock Exchange is starting trade this morning with handsome gains. All the Maof-25 components are rising, bringing the index up 1.7% to 386.94 points. The TA-100 is up 1.3% and technology shares are posting a modest 0.5% gain.

The market showed its mettle yesterday, holding up under the weight of Nasdaq losses the night before to close up over 1%. The vigor is expected to continue today, if on the low turnover typical of recent weeks.

Another positive factor in today¿s market mood is the lessened regional tension as the siege on Arafat¿s Ramallah headquarters ends.

Bank shares can expect lively trade today after Merrill Lynch yesterday directed international investors away from Israeli banks and into other emerging market banks such as Turkey. Bank Hapoalim and Bank Leumi are both up 1.6% on opening.