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Markets "indifferent" after result of Israel election

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Markets "indifferent" after result of Israel election

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Markets edged higher in Israel though trading was largely indifferent to the election result.

“The market’s indifference apparently stems from its belief that the coalition that will be formed will be more stable than its predecessor,” said one analyst.

Stocks rose 1.18 percent while the shekel edged higher to 4.0278 against the dollar from Monday’s close of 4.0167.

It’s expected former Likud member Moshe Kahlon will be handed the finance portfolio. It’s believed he will enhance the implementation of reforms to lower the cost of living, supporting continued moderate inflation.

As communications minister he boosted mobile phone competition and brought prices down sharply. He has vowed to do the same for banking.