Israel shares rose the most in more than a week on speculation central banks will take steps to bolster global growth as investors await the result of Greek elections. Saudi Arabia’s benchmark stock index also gained.
Perrigo Co. (PRGO) (PRGO) advanced to a record following a rally in its U.S. shares on bets a drop in imports and slowing job growth in the U.S. will push consumers to save money and buy the generic drugmaker’s cheaper products. Mellanox Technologies Ltd. (MLNX) (MLNX), an Israeli developer of technology used to transfer and store data, jumped 5.3 percent. The TA-25 (TA-25) climbed 1.6 percent, the most since June 7, to 1,065.85, at 1:22 p.m. in Tel Aviv. In the Persian Gulf, Saudi Arabia’s Tadawul All Share Index (SASEIDX) advanced 0.3 percent after retreating as much yesterday.
“There is optimism in the market,” said Daniel Rapoport, head of equity and derivatives at Bank Leumi Le-Israel (LUMI) Ltd. “The Greeks are going to vote. This is lowering uncertainty about foreign markets and this is good for Tel Aviv.”
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