Middle East Tensions Rise: European Nations Recognize Palestine, Israel Presses On Egypt Border, Blinken Eyes ICC Sanctions
Portfolio Pulse from Piero Cingari
European nations Spain, Norway, and Ireland have formally recognized an independent Palestinian state, leading to diplomatic tensions with Israel. Israel has responded by recalling its ambassadors and increasing military presence along the Rafah border with Egypt. U.S. Secretary of State Antony Blinken is seeking bipartisan support for sanctions on ICC prosecutors over arrest warrants for Israeli leaders. The iShares MSCI Israel ETF (NYSE:EIS) traded 0.5% lower on Wednesday.
May 22, 2024 | 4:27 pm
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NEGATIVE IMPACT
The iShares MSCI Israel ETF (NYSE:EIS) traded 0.5% lower following news of increased diplomatic tensions between Israel and European nations, as well as heightened military activity along the Rafah border with Egypt.
The recognition of Palestine by Spain, Norway, and Ireland has led to increased diplomatic tensions with Israel, which has responded by recalling ambassadors and increasing military presence at the Rafah border. These developments have likely contributed to the 0.5% decline in the iShares MSCI Israel ETF (NYSE:EIS).
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100