Israel’s benchmark stock index advanced for a seventh day, tracking gains in U.S. shares last week, as investors weighed lower borrowing costs and Iran’s nuclear accord with world powers. Saudi shares rose.
Israel’s benchmark index rose to a two-week high after U.S. equities last week had their longest rally since July and Tel Aviv’s exchange chose a new chief executive officer. Indian stocks gained in a special session.
Finance Minister Yair Lapid said Bank Leumi Le-Israel Ltd. should curb salaries and bonuses for its most senior managers as industry executives “cannot behave as if the party goes on” when most Israelis can’t make ends meet.
The shekel weakened for a fourth day on increased bets the Bank of Israel will lower borrowing costs in coming months to boost economic growth and stem the rally in this year’s best-performing major currency.