Israel's Netanyahu Forms Wartime Cabinet As Military Readies Gaza Ground Offensive
Portfolio Pulse from Anthony Noto
As the conflict between Israel and Hamas escalates, Israel has formed a wartime cabinet and is preparing for a ground offensive in Gaza. The U.S. has pledged support to Israel, with a plane carrying ammunition landing in the country. ETFs investing in Israeli stocks, such as BlackRock's Ishares Msci Israel ETF (NYSE:EIS), are experiencing substantial outflows. UBS Group (NYSE:UBS) has postponed all business travel to the Middle East due to the conflict. Tesla (NASDAQ:TSLA) CEO Elon Musk announced that all Tesla-branded charging stations in Israel would be free.
October 11, 2023 | 6:08 pm
News sentiment analysis
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NEGATIVE IMPACT
BlackRock's Ishares Msci Israel ETF (NYSE:EIS) is seeing substantial outflows due to the escalating conflict in Israel.
The escalating conflict in Israel is causing investors to pull out of Israeli stocks, leading to substantial outflows from EIS.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
UBS Group (NYSE:UBS) has postponed all business travel to the Middle East due to the escalating conflict between Israel and Hamas.
The escalating conflict between Israel and Hamas has led UBS to postpone all business travel to the Middle East, which could potentially impact its operations in the region.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Tesla (NASDAQ:TSLA) CEO Elon Musk announced that all Tesla-branded charging stations in Israel would be free.
While Tesla's decision to offer free charging in Israel could potentially increase its popularity in the country, the overall impact on its stock price is uncertain due to the ongoing conflict.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 60