Israel Stocks Buck Mideast Rally on Violence; Saudi Shares Climb - Bloomberg Business

Israel Stocks Buck Mideast Rally on Violence; Saudi Shares Climb - Bloomberg Business:

"Israel stocks were among the few equities in the Middle East to decline as days of confrontations with Palestinians intensified. Saudi Arabian stocks rallied led by one of the world’s biggest petrochemicals makers, which is restructuring to tackle “challenges" facing the company.
Israel’s TA-25 Index climbed as much as 0.2 percent at the start of trading before retreating 0.2 percent at 11:33 a.m. local time. The nation’s air force struck the Gaza Strip on Sunday in retaliation for rocket fire, and a car bomb was directed against an Israeli policeman outside Jerusalem. Tensions have flared over contesting claims to a Jerusalem shrine holy to Jews and Muslims.
The index is “underperforming global markets with the ongoing wave of terror attacks on investors’ minds,” Saar Golan, a trader at Bank of Jerusalem Ltd. in Tel Aviv, said by e-mail. “We don’t believe we are yet over this wave of violence, and the uncertainty is keeping buyers away.”"



'via Blog this'