This article originally appeared in the Financial Post. Below is an excerpt from the article.
By Jack Mintz, December 16, 2025
Sunday evening is the start of Hanukkah, the Jewish holiday that celebrates the victorious Maccabean revolt against the Seleucid Greeks in 2nd-century BC. The menorah, lit with a jug of oil for eight days in a rededicated Temple to God, serves as a symbol of the triumph of Jewish perseverance. Despite repeated challenges over the centuries, including the horrific murder of six million during the Holocaust, Jews have successfully maintained their identity for over three millennia since leaving Egypt, estimated in the year 1313 BC.
Like the Maccabean rebels, today’s Israelis have demonstrated remarkable resilience in the face of difficult challenges. Despite Hamas’ gruesome attack on October 7th, 2023, the costly Gazan war that resulted, and rockets raining down from Lebanon, Yemen and Iran, Israel’s stock market has been a star performer.
As of Dec. 10, the TA-35 Index, which tracks the largest 35 companies on the Tel Aviv stock exchange, is up 97 per cent since the week before the October 7th attack. By comparison, the TSE has risen 61 per cent over the same period, New York’s S&P 60 per cent and London’s FTSE 27 per cent.
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Jack Mintz is the President’s Fellow at the University of Calgary’s school of public policy and a distinguished fellow at the Macdonald-Laurier Institute.
