Tel Aviv Stock Exchange shares see moderate decline after Iran attack

Shares on the Tel Aviv Stock Exchange decline moderately after Iran launched a large wave of drones and missiles at Israel overnight in the first-ever direct attack by the Islamic Republic.

Tel Aviv Stock Exchange’s benchmark TA-125 index slips 0.4%, and the TA-35 index of blue-chip companies falls 0.3%. The Tel Aviv index of the five largest banks is down 0.4% and the TA-Insurance & Financial Services drops 0.9%. The TA-Biomed index falls 3.1%.

Iran on Saturday night fired a wave of around 300 projectiles from its territory toward Israel, comprising 170 drones, 30 cruise missiles, and 120 ballistic missiles, triggering air raid sirens throughout the country. The Israeli army said 99% of the projectiles had been intercepted by Israeli and allied countries’ air defenses.