Around the World's Markets: Tel Aviv

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ISRAELI SHARES hit a new high on confidence that the prime minister will appoint a professional as the next Bank of Israel governor. The Tel Aviv 100 index closed up 3.60 points, or 0.83 per cent, at 437.81 points.

Prime Minister Ehud Barak has asked Elhanan Helpman, a professor of economics who supports a tight monetary policy, to replace Jacob Frenkel when he leaves on 2 January. But there were rumours Professor Helpman might not take the job.