Israeli stocks slump in first day of trade since Gaza attack

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Steven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: @MKTWgoldstein.

The benchmark TA-35 index IL:TA35 fell 7% to 1,703.38 in Sunday morning trade, with every constituent except generic drugmaker Teva Pharmaceutical TEVA, -7.82% lower.

Several companies saw double-digit losses including Newmed Energy NWMD, -0.44%, an oil and gas explorer; Delek Group DLEKG, -4.04%, which owns the country’s largest chain of gas stations; and Shikun & Binui SKBN, -0.10%, an infrastructure company. Israeli soldiers were still battling Hamas fights in the streets of southern Israel on Sunday and has launched retaliation strikes on Gaza.

Israeli media, citing rescue service officials, said at least 300 people were killed, including 26 soldiers, while in Gaza officials said 313 people had died. An Israeli military official said hundreds of militants had been killed and dozens captured.

 

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