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March 3, 2019 12:58 pm

Israeli Stocks Rise Despite Attorney General Plan to Indict Netanyahu

avatar by Reuters and Algemeiner Staff

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Israeli Prime Minister Benjamin Netanyahu speaks at the Knesset in Jerusalem, Dec. 19, 2018. Photo: Reuters / Amir Cohen.

Israeli shares opened higher on Sunday morning, shrugging off news that the country’s attorney general intends to indict Prime Minister Benjamin Netanyahu on corruption charges.

The blue chip Tel Aviv 35 and the broader TA-125 indices were both up 0.5 percent at 0800 GMT. The stock market had been closed since the announcement was made late on Thursday.

US markets closed higher on Friday.

Israeli government bond prices were down as much as 0.4 percent.

The shekel weakened 0.2 percent to 3.6297 per dollar on Friday. The currency market is closed on Sunday.

An actual filing of the charges of bribery, fraud, and breach of trust would depend on the outcome of a required hearing. At that hearing — likely after the April 9 election — Netanyahu can try to persuade the attorney general not to indict him.

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