Israel-Hamas War, Day 42 – Hostage Release Negotiations Intensify, Biden Remains Cautiously Optimistic, Accuses Hamas Of War Crimes
Portfolio Pulse from Piero Cingari
The conflict between Israel and Hamas has reached day 42 with significant developments in hostage negotiations, military operations, and international reactions. Hamas has agreed in principle to release hostages, while President Biden has accused Hamas of war crimes. IDF operations continue at Shifa Hospital, and Israel has taken control of Gaza's harbor. International condemnation of Israel's actions has come from Saudi Arabia and South Africa. The Israeli shekel and stock market rose, as did Saudi stocks, while U.S. Treasury yields fell. The iShares MSCI Israel ETF (EIS) and iShares MSCI Saudi Arabia ETF (KSA) both saw gains, while the SPDR Gold Trust (GLD) rose and Bitcoin (BTC) fell.
November 16, 2023 | 3:43 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
The iShares MSCI Israel ETF (EIS) rose 4.1%, reflecting optimism in the Israeli market despite ongoing conflict.
The rise in EIS is likely due to investor perception of resilience or positive developments in the Israeli market, despite the conflict. The ETF's performance is directly tied to the Israeli market, which has shown strength.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR Gold Trust (GLD) saw a 0.6% increase to $1,971/oz, indicating a shift towards safe-haven assets amid conflict uncertainties.
The uptick in GLD's price suggests investors are seeking stability in gold, which is often seen as a safe investment during times of geopolitical tension.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 60
POSITIVE IMPACT
The iShares MSCI Saudi Arabia ETF (KSA) increased by 1.2%, reaching its highest levels since mid-September.
KSA's gain may be influenced by positive sentiment in the Saudi market, potentially related to the country's geopolitical stance or economic factors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70