Israel's TA-35 Nears 52-Week High After Trump-Brokered Ceasefire Between Israel And Iran

News18

3 days ago

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Israeli stock market has climbed about 3.2% over the past week, supported by gains after joint Israeli-US strikes on Iran
Israel's TA-35 index soared close to its 52-week high on Tuesday, June 24, following US President Donald Trump's announcement of a ceasefire between Israel and Iran.
The broader TA-125 index rose 1.6 per cent, while the TA-35 — which tracks top blue-chip companies — advanced 1.9 per cent. Sectoral indices also saw strong gains, with the TA-Construction index up 1.8 per cent, the TA-Real Estate index climbing 2 per cent, and the TA-Banks index jumping 3.7 per cent.
The Israeli stock market has climbed about 3.2 per cent over the past week, supported by gains after joint Israeli-US strikes on Iranian nuclear and military sites.
US President Donald Trump brokered a ceasefire between Israel and Iran through direct discussions with Israeli Prime Minister Benjamin Netanyahu and backchannel communications involving senior members of his administration, a senior White House official confirmed.
According to the official, Trump's team—including Vice President JD Vance, Secretary of State Marco Rubio, and US special envoy Steve Witkoff—held both direct and indirect talks with Tehran to bring about the truce. The ceasefire was announced shortly after both Israel and Iran had issued fresh threats of retaliation.
Escalation Before Ceasefire
Tensions had escalated dramatically over the weekend when US bombers dropped 30,000-pound bunker-buster bombs on Iran's underground nuclear facilities. In response, Iran launched missiles at a US air base, though no casualties were reported.
The official noted that Trump moved quickly following the strikes, calling for talks with both nations.
'He directed his team on Saturday night: 'Let's get on the phone with the Iranians,'" the official said.
''Get me Bibi. We're going to make peace,'" Trump reportedly told aides, referring to Netanyahu.
While Trump's administration had previously engaged in five rounds of dialogue with Iran in the lead-up to the crisis, negotiations had broken down due to Tehran's insistence on continuing uranium enrichment, Reuters reported.
Trump's Decision to Use Force
On June 19, Trump said he would decide on American military action 'within two weeks," but by the afternoon of June 21, he had authorized airstrikes on Iran's nuclear infrastructure—a significant departure from his long-standing commitment to avoid entangling the US in foreign wars.
The move to align militarily with Israel raised eyebrows among members of his conservative 'Make America Great Again" base, which had strongly supported Trump's non-interventionist stance.
A Ceasefire Born in the Oval Office
The ceasefire emerged after a day of intensive Oval Office deliberations, culminating in a direct call between Trump and Netanyahu. The Israeli Prime Minister has been a vocal advocate for stronger US military involvement during the conflict.
Despite the pressure, Trump reportedly emphasized restraint and kept US strategic interests at the core of his decision-making, the White House official said.