Article: TASE drops on possible Iraq strike

Bloomberg
Jerusalem Post
11-13-1998
Tel Aviv

Israeli stocks fell, led by Bank Hapoalim as a weakening shekel increased the costs for companies to repay foreign currency loans and concern mounted over a possible US strike against Iraq.

The Maof Index of the Tel Aviv Stock Exchange's 25 largest companies fell 0.99 percent to 276.36. Bank Hapoalim dropped 1.93 percent to 7.11 shekels while Israel Chemicals fell 1.93 percent to 3.56. Nineteen out of the index's 25 stocks fell.

As the US and British embassies began evacuating families and non-essential personnel during a military build-up against Iraq, analysts said concern about Iraqi reprisals against Israel lurked "in the ...

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