The effect of the Finance Minister's declaration: a decline in bank shares (Photo: Government Press Office)
Yesterday, the finance minister dropped a bombshell: he intends to act to tax bank profits. This morning, the effect was already felt on the stock exchange, as the first hours of trading were characterized by price declines.
Trading is lively and the data are changing rapidly, but as of the moment of examination, Leumi's share price has declined by more than 2%, Hapoalim's share by about 1.3%, Mizrahi-Tefahot and Discount shares by a similar rate of about 0.8%, and International's share price by 0.7%.
Walla learned that many investors, according to the source, mainly foreign investors, are selling shares of Israeli banks. This is the place to mention that bank shares in Israel are held by the public through pension funds and other savings channels, so that when their value falls, we all lose.
Who loses when the banks get hurt? https://finance.walla.co.il/item/3582904
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