“Tel Aviv” Stock Markets and ’Shekel’ Decline Due to Security Concerns

By Staff, Agencies

"Shekel" loses 5% in 10 days against Euro and Dollar, with analysts suggesting a correction if Iran attack is delayed.

“Israel's” stock market opened downward on Monday due to Iranian attack concerns and Asian market decline.

On Sunday, market indices plunged significantly. The TA-35 and TA-125 dropped by 2.5% and 2.4% respectively. Bank indices fell by 1.6%, while the TA Technology index plummeted by 3.7%. Tower and Priortech also saw notable declines.

The "shekel" weakened by 1.5% against the euro and by 0.3% against the dollar, trading at 4.2 and 3.83 "shekel" respectively, following poor economic results, losing 5% in 10 days.

Analysts forecast a major Iranian-led operation prompting “Israeli” response, possibly expanding the conflict and impacting the currency exchange rate to cross the 4-"shekel"-to-one-dollar mark.

If the pending attack is delayed, markets may adjust as exporters and producers pay off their employees and suppliers in local currency, according to the analysts.