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Stocks in Israel showed resilience Sunday following the unprecedented missile and drone attack by Iran.
The Israeli government is in agreement that there should be a response to the attack, Hanoch Milwidsky, vice-president of the Israeli parliament, told the BBC.
The Tel Aviv benchmark TA-35 rose +0.3%. (NYSEARCA:EIS) (NYSEARCA:ISRA)
An “attack from Iran was anticipated,” IBI investment house chief economist Rafi Gozlan told The Times of Israel. “Investors are now in a wait-and-see position to see how Israel will respond to the Iranian attack and whether it stays a tit-for-tat situation or develops into a wider regional escalation.”
“Investors will also be closely watching to see if the Israeli government will continue to align with the regional collective coordination that helped to defeat the Iranian attack and strengthen ties with the US following the tensions in recent weeks over the war in Gaza,” Gozlan said.
U.S President Joe Biden condemned the attacks, but also told Israel Prime Minister Benjamin Netanyahu that the U.S. would not support a counterattack, according to Axis.