The optimism on Wall Street over the past few days spread to Tel Aviv yesterday, and the local market responded with big gains.
Yesterday the Tel Aviv Stock Exchange hit its highest level in five months as the TA-25 index of blue-chips jumped 5.3% to close at 765 points, and the broader TA-100 rose 1.1% to end the day just under the 700 barrier at 699 points
The Real Estate-15 index was up 5.7% for the day, and has now gained 50% so far in 2009. The recovery in the corporate bond market has had a good effect on the highly-leveraged real estate sector, and Africa Israel gained 9.2% yesterday, with the company's bonds gaining 7% in price.
