2 days ago
Israel stock market: TA-35 index declines 1% as focus shifts towards Gaza, nuclear talks between US & Iran
Key Israeli stock index TA-35 index declined nearly 1% in intraday trade on Monday, following a fresh attack by the country's military forces on Gaza and amid the possibility of renewed nuclear talks between the US and Iran.
Other stock indices, such as the TA-125 index and the TA-All Share index, also plunged amid a sharp 18% surge in volatility.
After its ceasefire with Iran, Israel has shifted its focus back to the war with Palestine. The latest Israeli strike killed at least eight Palestinians, most of them children, and wounded a dozen more in central Gaza when they went to collect water on Sunday, according to a Reuters report.
The Israeli military said the missile had been intended to hit an Islamic Jihad militant in the area, but that a malfunction had caused it to fall "dozens of metres from the target".
Hours later, 12 people were killed by an Israeli strike on a market in Gaza City, including a prominent hospital consultant, Ahmad Qandil, the Reuters report added.
The action coincided with US President Donald Trump's Middle East envoy Steve Witkoff's statement that he was "hopeful" on Gaza ceasefire negotiations underway in Qatar.
Negotiations for a ceasefire between Israel and Gaza are stalling, with both sides divided over the scope of an Israeli withdrawal.
The indirect US-brokered talks in Doha, focused on a 60-day ceasefire, have lost momentum as both sides accuse each other of intransigence. In a Telegram video, Netanyahu reaffirmed Israel's core demands: release all hostages, destroy Hamas, and ensure Gaza never threatens Israel again.
Meanwhile, Iran's foreign minister has said the US is trying to revive nuclear talks with Tehran. Tehran is weighing its options regarding the timing, location, and structure of potential talks, but is 'in no rush to enter into reckless negotiations,' said Abbas Araghchi, according to Bloomberg.
Araghchi served as lead negotiator in talks with the US, which collapsed after Israel launched a surprise attack on Iran's nuclear sites on June 13. The strikes killed several top military and nuclear officials, and hit densely populated urban areas as well as Tehran's Evin Prison. The US joined the Israeli assault on June 22, striking three Iranian nuclear facilities.
Against this backdrop, the TA-35 index declined 0.82% to a low of 2,960.96 in intraday deals on Monday. The index closed at 2,963.23 in the last trading session
Meanwhile, TA-125 index was down 0.80%. It hit a low of 3,024.86 as against its last close of 3027.17. Meanwhile, the TA Allshare index lost 1.10% to hit a low of 2764.
(With inputs from agencies)
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