Tel Aviv stocks jumped at the close of trading Tuesday following the Bank of Israel's announcement that it was lowering the interest rate by 0.5 percent, to 3.75%, as of October 12. The Tel Aviv 25 Index jumped by 3.9 percent, to 798 points, while the Tel Aviv 100 increased by 4.6%, to 716. The Tel-Tech climbed 6.8%, to 170, and the Real Estate Index jumped by a massive 19.1%, to 259. The dollar also climbed, trading for 3.503 shekels, while the price of the euro against the shekel rose to NIS 4.7704. The BOI said that Tuesday's decision was made "in light of the sharp rise in uncertainty in worldwide financial markets, and the repercussions of this uncertainty on local markets.
