Shares on the Tel Aviv Stock Exchange jump and the shekel gains amid investor optimism that the joint Israeli-US assault on Iran will ultimately reduce geopolitical risk.
“War continues against Iran, with Israel intercepting most missiles but suffering civilian casualties as well,” says Jonathan Katz, a macroeconomist at Leader Capital Markets. “The joint US -Israel operation improves the geopolitical outlook greatly.”
Katz notes that US President Donald Trump “appears to be interested in avoiding a prolonged conflict, even if there is no regime change.”
“A much weakened Iran is positive for Israel, while a war of attrition is the major downside risk,” he adds.
The Tel Aviv Stock Exchange’s benchmark TA-125 index increases 3.3 percent in Tel Aviv. The TA-35 index of blue-chip companies is up 3.2%. The TA-Insurance Index jumps 6.1% and the TA-Finance Index soars 5%. The TA-Construction Index advances 4.5%. The shekel gains 0.3% and is trading around NIS 3.12 against the dollar.
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