JERUSALEM Nov 24 Israeli stock prices rose to
another record high on Sunday, ignoring local politicians'
comments that a deal to curb Iran's nuclear programme was a
Iran and six world powers clinched a deal earlier in the day
to curb the Iranian nuclear programme in exchange for initial
sanctions relief, signalling the start of a game-changing
rapprochement that could ease the risk of a wider Middle East
Israeli Prime Minister Benjamin Netanyahu denounced the
agreement with Iran as a historic mistake that left the
production of atomic weapons within Tehran's reach. Netanyahu
told his cabinet his government would not be bound by the deal.
But Israeli investors ignored such talk from Netanyahu and
other lawmakers and doubt Israel will attack Iran on its own.
The blue-chip Tel Aviv 25 index rose 0.5 percent to
1,352.04 points at 1412 GMT, after reaching a new intraday high
of 1,355.38 earlier in the session. Last Wednesday, the TA-25
posted a new record close, surpassing an April 2011 peak. It
edged higher on Thursday to a new record and its sixth straight
"Israeli investors see a lower risk of conflict despite what
politicians have to say. An agreement is reducing the odds of a
military conflict," said Roni Biron, senior analyst at UBS
Israel. "Investors are reading ... that this is a positive
agreement. Investors are liking any agreement that is done in a
diplomatic way. They prefer that to a military conflict."
The broader TA-100 index was 0.7 percent higher at
1,220.97 points, some 33 points shy of a record.
Bond prices rose, with the benchmark 10-year bond
up 0.5 percent for its first gain in a week. Its
yield slipped to 3.55 percent from 3.62 on Thursday, the last
day of trade for the Israeli trading week.
Analysts noted that gains on Wall Street and in U.S.
Treasuries on Friday also helped to boost Israeli markets.
Stock volume was weak at 737 million shekels ($207 million),
but turnover is typically lower on Sundays given the lack of
foreign investors. The foreign exchange market is closed on