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Tel Aviv stocks gain 2% after Israel's pre-emptive strike on Hezbollah



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JERUSALEM, Aug 25 (Reuters) - Key TelAviv share indices closed about 2% higher on Sunday, with the blue-chip index touching a record high,after an Israeli pre-emptive strike against Hezbollah curbed a potentialrocket barrage by the group against key targets in Israel.

The blue-chip Tel Aviv 35 index .TA35 ended 2% higher at 2091.6 points, after hitting an intraday peak of 2091.91, while thebroader TA-125 .TA125 rose 2.1%.

"The trading day began after the publication of the extensive pre-emptive strike launched by the Air Force early in the morning, which prevented the launch of missiles towards strategic targets in Israel," said Yuval Tzuk, an economist in the bourse's research department.

He said share gains were also helped by growing expectations of U.S. interest rate cuts.

Hezbollah launched hundreds of rockets and drones at Israel early on Sunday, as Israel's military said it struck Lebanon with around 100 jets to thwart a larger attack, in one of the biggest clashes in more than 10 months of border warfare.

Israel's foreign minister said the country did not seek a full-scale war but Prime Minister Benjamin Netanyahu warned: "This is not the end of the story."



Reporting by Steven Scheer
Editing by David Goodman and Bernadette Baum

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