Israel-Hamas War, Day 49: Ceasefire Begins; First Round Of Hostages Released As Fuel Heads To Gaza
Portfolio Pulse from Piero Cingari
A ceasefire between Israel and Hamas has begun on the 49th day of conflict, with a hostage and prisoner exchange agreement in place. The truce includes the release of 50 hostages by Hamas and 150 Palestinian prisoners by Israel. The first phase of the exchange has started, with 13 hostages released by Hamas and 39 Palestinian prisoners to be released by Israel. The Israel Defense Forces (IDF) are prepared to receive and provide medical support to the released hostages. Additionally, military movements have been observed, with Israeli tanks retreating and humanitarian aid entering Gaza. U.S. markets are on a shortened trading schedule due to Black Friday, with subdued activity. The iShares MSCI Israel ETF (EIS) closed with a 1.5% gain on Wednesday.
November 24, 2023 | 2:49 pm
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POSITIVE IMPACT
The iShares MSCI Israel ETF (EIS) closed with a 1.5% gain on Wednesday, reaching its highest point since before the Hamas attack on Oct. 7. The ceasefire may bring stability to the region, potentially impacting investor sentiment positively.
The ceasefire agreement between Israel and Hamas could lead to increased stability in the region, which may improve investor sentiment towards Israeli assets, including EIS. The recent gain suggests a positive market reaction to the de-escalation of conflict. However, the impact may be moderated by the overall subdued trading activity due to the holiday.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80