Eilat terror attack hits TASE and shekel

The Tel Aviv 25 Index fell 2.8% on the news and the shekel-dollar exchange rate rose 1.2%.

The terrorist attack on a bus and cars north of Eilat caused collateral damage on the Tel Aviv Stock Exchange (TASE). The Tel Aviv 25 Index fell sharply on the news, and was down 2.81% to 1,076 points, and the shekel weakened against the dollar, with the shekel-dollar exchange rate up 1.2% to NIS 3.562/$.

The attack exacerbated the morning market trends. Stock markets in Europe are down sharply on the grim macroeconomic figures from Germany. Frankfurt's DAX is down 3.5%, Paris's CAC 40 Index is down 2.8%, and London's FTSE 100 is down 2%. Most Asian markets fell earlier. Futures contracts point to losses at the opening on Wall Street.

Published by Globes [online], Israel business news - www.globes-online.com - on August 18, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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