Israel shares delivered the longest losses in 18 months

The intense sale of Israeli shares extended for the sixth day in a row, with the longest wave of losses in 18 months, with investors’ concerns about the economic consequences of the Gaza war. The Tel Aviv 35 (Ta -35) index fell by 1.8%, increasing the total losses since 9 to 4.3%. While equity investors continue to withdraw from the market this week, the move is limited in Israeli bonds denominated by the Shek or Dollar. The European Union is studying the suspension of Israel’s commercial privileges, the European Union has suggested that the preferred commercial benefits of Israel be suspended, which means they impose the same customs duties that apply to countries that are not linked to the commercial agreements of the block, according to a statement from the commission issued on Wednesday. Prime Minister Benjamin Netanyahu acknowledged the isolation of Israel in statements early this week, emphasizing the need for confidence to wear any sanctions. Europe is on his way to suspend commercial benefits for Israel because of human rights violations, but Netanyahu later made it clear that he had referred to safety dependence specifically, and that its statements were misunderstood by “allegedly increasing market concern”, and then renewed that Israel would build an independent and strong weapon industry to meet the military needs. Parents between investors have turned the investor’s feeling away from the strength of the market at the moment after the “Hamas” attack on Israel on October 7, 2023. After a spate of sales panic immediately after the attack, the Tel Aviv index recovered and jumped 83% to last week, adding more than $ 200 billion to the wealth of shareholders. However, the optimism of the market has collapsed over the past few days with the growing criticism of Israel from the United States and from a growing group of friendly countries because of the intense attack on Gaza City, and the attack it has carried out in Qatar. The Dubai Air exhibition excludes Israeli companies due to the war in Gaza and the Qatar attack, and the market also failed the wave of the last rise in the global shares, which was fed by the expectations by lowering federal interest rates. The Tel Aviv index for six consecutive days is the strongest among the global indicators monitored by “Bloomberg”.