Tel Aviv stock exchange jumps 4% to hit fresh 52-week high amid buzz of Iran's attack on exchange building

Tel Aviv stock exchange jumps 4% to hit fresh 52-week high

The Tel Aviv Stock Exchange (TASE) surged more than 4 percent on Thursday, rebounding sharply even as tensions with Iran remained high. Al Jazeera reported that the Israeli stock exchange building sustained damage in a missile strike by Iran on Thursday morning.

Markets opened at 10 am local time and climbed steadily through the session. The benchmark index rose as much as 4.7 percent at its intraday high. This is the fifth straight session of rise for the index, before sinking 4 percent on June 12. TA‑125 Index is up 16 percent year-to-date, outperforming the S&P 500’s 2 percent gain.

Despite the gains, investor sentiment remained cautious amid continuing hostilities.

Iranian missiles likely hit Tel Aviv Stock Exchange: Quick facts on Israel’s capital market

Tensions escalated further after reports emerged that Israel had targeted Iran’s Arak heavy water reactor earlier in the day. However, there was no radiation threat and the site had been evacuated before the strike, reported Associated Press (AP).

In retaliation, an Iranian missile reportedly hit a major hospital in southern Israel, causing extensive damage, officials said.

The conflict has led to widespread destruction, with Israeli air and missile strikes over the past week killing senior Iranian military figures and damaging key nuclear facilities. Iran’s retaliatory attacks have resulted in the deaths of at least two dozen civilians in Israel.

The intensifying confrontation has raised concerns of a broader regional conflict involving global powers.

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