Shares on the Tel Aviv Stock Exchange surged to all-time highs Tuesday as investors welcomed U.S. President Donald Trump’s new plan to end the war in Gaza.

The benchmark TA-125 index closed up 3.1%, extending a rally that has pushed the index about 30% higher since the start of the year. The gains came after weeks of record-breaking trading in Tel Aviv as markets bet on prospects for regional stability and economic growth.

The rally capped a strong third quarter for Israel’s markets. On Tuesday, the Tel Aviv 35 Index rose 2.8% to close at a record 3,199.82 points, while the TA-125 finished at 3,250.03. Banks and insurers led the gains, with Bank Hapoalim climbing 4.1%, Leumi up 3.6% and Phoenix Financial soaring more than 7%.

Trading turnover reached more than 5.4 billion shekels ($

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