Israel Financial News

The International Monetary Fund warns that the world economy has lost momentum from the impact of higher interest rates, the invasion in Ukraine and widening geopolitical rifts

Investors are backing off from bets on a continued selloff in US stock futures, according to Citigroup Inc. strategists.

The outbreak of conflict in the Middle East is adding to a long list of concerns that has investors dumping developing-nation assets for the safety of the dollar. 

The annual meetings of the International Monetary Fund and World Bank kick off this week against a backdrop of escalating global conflict and debt distress.

European shares rallied after dovish comments by Federal Reserve officials and the prospect of more economic stimulus by China brought some risk appetite back to markets as investors continue to evaluate the potential impact of the Israel-Hamas conflict. 

The BSE benchmark Sensex advanced 567 points or 0.87% to settle at 66,079. The broader NSE Nifty surged 177 points or 0.91% to end at 19,689. From the Sensex pack, Bharti Airtel, Kotak Bank, JSW Steel, and Tata Motors were the top gainers, rising 2-3%.

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Hindustan Petroleum Corporation (HPCL), Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL) may remain volatile in the near term looking at uncertainties pertaining to the oil prices amidst geopolitical stress caused by Israel Hamas Conflict, said analysts. Brent that was $70-75 a barrel levels in June had risen to more than $95 a barrel by the end of September.

Ayatollah Ali Khamenei said on Tuesday that Tehran had not been involved in the Hamas group's weekend attack on Israel, but he hailed what he called Israel's «irreparable» military and intelligence defeat. In his first televised speech since the attack, Khamenei said «we kiss the hands of those who planned the attack on the Zionist regime». «This destructive earthquake has destroyed some critical structures (in Israel) which will not be repaired easily… The Zionist regime's own actions are to blame for this disaster,» said Khamenei. Iran has long backed the Hamas group, which controls the Gaza Strip and rejects Israel's right to exist. Israel said earlier on Tuesday it had re-established control over the Gaza border and was planting mines where militants had toppled the barrier during their bloody weekend assault, after another night of relentless Israeli air raids on the enclave. The United States said on Monday Iran was complicit in Hamas' assault on Israel, though it said it had no intelligence or evidence pointing to Tehran's direct participation.

cryptocurrency markets were trading in the red on Tuesday amid geopolitical tensions in the Middle East. Bitcoin was down 0.7% at $27,660, while Ethereum was below the $1,600 level. Meanwhile, the global cryptocurrency market cap declined 1.24% to around $1.08 trillion in the last 24 hours. Other crypto tokens also declined. XRP, Solana, and Dogecoin fell by over 2%. While Toncoin, Polygon, and Polkadot plunged over 3%. «Bitcoin’s price is consolidating above the $27500 mark due to long liquidations following the rising geopolitical tensions in the Middle East and an uptick in oil prices. Bitcoin’s value has currently risen by 66.62% over the year. If the markets turns bearish, Bitcoin will find support at around $27,195,» said Edul Patel, CEO of Mudrex.

Dov Lieber and Stephen Kalin contributed to this article. Write to Rory Jones at [email protected] and Dion Nissenbaum at [email protected]

Israel-Hamas War: The Indian companies that have exposure to Middle East economies have been on their toes for the last few days since the geopolitical tensions erupted in Israel, worried about their operations in the region and the eventual impact on companies' balance sheets. The Israel-Palastine tensions started on October 7 and kept escalating over the weekend. By Monday (October 10), it had turned into a war and the market watchers and investors were bracing for a crash in the Indian stock market.

The cryptocurrency world is abuzz with significant developments today. Bitcoin is currently trading at $27,653, experiencing a 1% decrease on Tuesday. In a noteworthy political move, Robert F. Kennedy Jr., a staunch advocate for cryptocurrencies, has decided to run for president as an independent, parting ways with the Democrats. 

The Israeli police cyber unit have frozen cryptocurrency accounts used by Hamas to raise donations via social media, Jerusalem Post reported. 

₹799.95 apiece on BSE. Adani Ports & SEZ share price touched an intraday high of ₹817.

PTI, he sought to downplay the concerns emanating from Washington about China's intentions to challenge the United States' superpower status. The "Thucydides Trap" refers to a concept where an emerging power poses a potential threat to replace the existing dominant power.

closely monitoring the safety of its employees in Israel amid the ongoing war between Israel and Hamas. “We are monitoring, and have been in touch with the HR (human resources) officials there.

Geopolitics is often ignored in financial markets. For reasons best known to them, investors and traders don’t think it’s as important as other factors that move markets. The best example of this was the Russia-Ukraine war.

Gaza is burning as Israeli forces methodically proceed to dismantle its structures of terror. The coming retribution will be terrible, but it is necessary and just. Hamas has lost the right to rule Gaza.

X on Tuesday said it has removed newly-created Hamas-affiliated accounts and purged tens of thousands of posts for sharing graphic media, violent speech, and hateful conduct amid the ongoing Israel-Hamas violence, as its CEO Linda Yaccarino cancelled her appearance at a key tech conference next week. The platform said it is also continuing to proactively monitor for antisemitic speech. «We have taken action to remove several hundred accounts attempting to manipulate trending topics. Community Notes are now live on posts and new accounts are being enrolled in real time to propose and rate notes,» said the social media network.