Tel Aviv stock exchange indices rise to record highs amid escalation with Hezbollah party
Date
8/26/2024 5:51:15 AM
(MENAFN) On Sunday, Tel Aviv's main stock indexes experienced a notable rise of approximately 2 percent, with the blue-chip TA35 index achieving a record high. This significant increase came in response to Israel's announcement of a preemptive strike against Hezbollah, which was aimed at halting an anticipated barrage of rockets the militant group was preparing to launch at key targets within Israel. The TA35 index closed at 2,091.6 points, marking a 2 percent gain and surpassing its previous intraday peak of 2,091.91 points. Additionally, the broader TA125 index saw an increase of 2.1 percent.
The surge in the stock indexes followed a dramatic escalation in regional conflict. Early on Sunday, Hezbollah launched a substantial attack involving hundreds of rockets and drones targeting Israel. In retaliation, the Israeli military conducted one of its most extensive airstrikes in over ten months, deploying around 100 aircraft to strike targets in Lebanon. This intense confrontation underscores the volatility in the region and its impact on market sentiment.
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