16.08.2006
Truce sends stocks in Beirut and Israel higher
The beginning of the cease fire in the Middle East gave the financial markets of the region a breather on Monday. Stocks at the Beirut Stock Exchange (BSE) rose by an average of 5 percent. To contain any drastic volatility, the BSE had limited the fluctuations of prices to the same percentage. The conflict between Israel and Hezbollah has deeply hit the Lebanese economy. The damages in infrastructure are estimated to amount to more than $ 2.5 bln. according to official sources.
Stocks at the Tel Aviv exchange also reacted positively. The stock index Tel Aviv 100 rose by 0.19 percent on Monday. The exchange had already anticipated most of the positive effects of the cease fire on the day before.
Source: Neue Zürcher Zeitung
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