Israel, Hamas Move Closer To Ceasefire Agreement As International Pressure Mounts
Portfolio Pulse from Piero Cingari
Israel and Hamas are moving closer to a ceasefire agreement, with Israel planning to send a delegation to Qatar after Hamas made concessions. Despite this, Israel is preparing for a military offensive in Rafah, Gaza. The U.S. is focusing on humanitarian efforts, including a project to build a pier in Gaza for aid delivery. Hamas demands the release of over 1,000 prisoners in exchange for 40 hostages. Skepticism remains due to some of Hamas' unrealistic positions, but the international community is closely watching the negotiations. The iShares MSCI Israel ETF (EIS) fell by 1.4% for the second consecutive day.
March 15, 2024 | 8:27 pm
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NEGATIVE IMPACT
The iShares MSCI Israel ETF (EIS) experienced a 1.4% decline for the second consecutive day amid ongoing Israel-Hamas ceasefire negotiations and preparations for a military offensive in Rafah.
The decline in EIS can be attributed to the ongoing conflict and uncertainty in the region, which typically leads to negative investor sentiment towards assets related to the affected area. The news of ceasefire negotiations, despite being a positive development, is coupled with the preparation for a military offensive, maintaining a level of uncertainty and risk that is likely influencing the ETF's performance negatively.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80