Israel stock exchange: Amid rising tensions between Israel and Iran, the Tel Aviv Stock Exchange snapped five-days gaining streak to fall less than a 1 per cent on Monday. The broad Tel Aviv 125 index opened 0.70 per cent down at 2,853.07 on June 23.
On Sunday, Israeli stocks surged to all-time highs following U.S. airstrikes on Iran’s nuclear facilities, which investors believe will delay Tehran’s ability to develop nuclear weapons in the near future.
The broad Tel Aviv 125 index closed up by 1.8 per cent, pushing its weekly gains to nearly 8 per cent, while the benchmark TA-35 (.TA35) rose by 1.5 per cent.
Israel stocks in limelight
Following Israeli strikes on Iran, stocks climbed throughout all five sessions last week, rising about 6 per cent, as Israel targeted Iranian nuclear and military sites ahead of the unexpected U.S. attacks on Saturday.
The TA-125, the benchmark index of the Israeli stock exchange, has been trending upward since the conflict between Iran and Israel began on June 13, posting a 5 per cent gain during this time. So far in June, the index is up nearly 8 per cent, adding to the 6.55 per cent increase in May and the 4.53 per cent rise in April.
Israel launched intense attacks on Iran’s nuclear sites, ballistic missile production centers, and military leaders on June 13, prompting Iran to respond with counterstrikes targeting Israel.
U.S. President Donald Trump stated that he had destroyed Iran’s key nuclear facilities in overnight airstrikes using powerful bunker-busting bombs, aligning with an Israeli offensive in a major escalation of tensions in the Middle East.
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