Israeli Shekel Stabilizes On Central Bank's $30B Intervention: ETFs Linked To Nation Rebound After Monday's Sell-Off
Portfolio Pulse from Piero Cingari
The Israeli shekel is stabilizing after the Bank of Israel intervened with a $30 billion sale of foreign currency. This is the bank's first intervention in two years, aimed at preventing further devaluation of the shekel due to the ongoing conflict with Hamas. Israeli stocks are also recovering after a significant drop on Monday. ETFs linked to Israel, including ARK Israel Innovative Technology ETF (IZRL), iShares MSCI Israel ETF (EIS), and BlueStar Israel Technology ETF (ITEQ), have shown gains. Other notable gainers include Satixfy Communications (SATX), Nano-X Imaging (NNOX), LivePerson (LPSN), Innoviz Technologies (INVZ), Fiverr International (FVRR), and SolarEdge Technologies (SEDG).
October 10, 2023 | 3:54 pm
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POSITIVE IMPACT
iShares MSCI Israel ETF (EIS) has witnessed a 1.2% uptick, rising from a substantial 7.1% drop on Monday.
The ETF is directly linked to the Israeli market, which is recovering after a significant drop. The Bank of Israel's intervention has also helped stabilize the shekel, which could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Fiverr International Ltd. (FVRR) is up 6.7%.
The stock is directly linked to the Israeli market, which is recovering after a significant drop. The Bank of Israel's intervention has also helped stabilize the shekel, which could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Innoviz Technologies Ltd. (INVZ) is up 8%.
The stock is directly linked to the Israeli market, which is recovering after a significant drop. The Bank of Israel's intervention has also helped stabilize the shekel, which could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The BlueStar Israel Technology ETF (ITEQ) has shown a 1.6% increase, bouncing back from a 3% dip.
The ETF is directly linked to the Israeli market, which is recovering after a significant drop. The Bank of Israel's intervention has also helped stabilize the shekel, which could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
ARK Israel Innovative Technology ETF (IZRL) has gained 2.6% after a significant drop on Monday.
The ETF is directly linked to the Israeli market, which is recovering after a significant drop. The Bank of Israel's intervention has also helped stabilize the shekel, which could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
LivePerson Inc. (LPSN) is up 8.5%.
The stock is directly linked to the Israeli market, which is recovering after a significant drop. The Bank of Israel's intervention has also helped stabilize the shekel, which could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Nano-X Imaging LTD (NNOX) is up 9%.
The stock is directly linked to the Israeli market, which is recovering after a significant drop. The Bank of Israel's intervention has also helped stabilize the shekel, which could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Satixfy Communications Ltd. (SATX) is up 20%.
The stock is directly linked to the Israeli market, which is recovering after a significant drop. The Bank of Israel's intervention has also helped stabilize the shekel, which could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
SolarEdge Technologies Inc. (SEDG) is up 5.4%.
The stock is directly linked to the Israeli market, which is recovering after a significant drop. The Bank of Israel's intervention has also helped stabilize the shekel, which could boost investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80