Globes reports that global markets are defying predictions of a global downturn in the wake of a Trump victory.
In early afternoon inter-bank trading, the shekel was up 0.98% against the dollar from yesterday's representative rate at NIS 3.836/$, and was down 0.96% against the euro at NIS 4.178/€.
Markets worldwide are rising strongly with the Tel Aviv Stock Exchange being no exception. Having risen 1.22% yesterday, the Tel Aviv 25 Index rose 1.22% yesterday and went up a further 1.07% at midday. Pharmaceutical stocks in particular rose very strongly on the belief that Trump will not impose the stricter regulation that Hillary Clinton was planning. Perrigo Company was up 6.87%, Teva Pharmaceutical Industries Ltd. rose 0.84% and Mylan N.V. rose 1.47%.