Analysts are warning of a possible sharp jump in oil prices on Monday, and the risk premium will be reflected in the market until it is clear whether a chain reaction in supplies will begin. An oil rally could happen if the conflict widens to involve the US, Iran and other parties.
Stocks across the Middle East have lost value because of Israel's war with Hamas. The TA-35 index in Israel lost 7%, the biggest drop in more than 3 years. The rules of the Tel Aviv Stock Exchange provide for a 30-minute trading halt in the event of a drop of 8% and the closing of the exchange for the day in the event of a drop of 12%.
Other markets also saw declines: the EGX30 index in Egypt fell by 5.4%, the Tadawul All Share index in Saudi Arabia fell by 1.2%, and Saudi Aramco shares fell slightly. However, trade in Saudi Arabia remains stable for now.
In the financial markets, in the morning, oil futures rose by 3-4%, stock futures fell by 1%, and gold prices rose by 1%. Also, the dollar and US government bonds are increasing in price, which indicates an increased demand for defensive assets. Markets will follow the development of events and the possible impact on the world economy. 🌍📊
#economy #news
Stocks across the Middle East have lost value because of Israel's war with Hamas. The TA-35 index in Israel lost 7%, the biggest drop in more than 3 years. The rules of the Tel Aviv Stock Exchange provide for a 30-minute trading halt in the event of a drop of 8% and the closing of the exchange for the day in the event of a drop of 12%.
Other markets also saw declines: the EGX30 index in Egypt fell by 5.4%, the Tadawul All Share index in Saudi Arabia fell by 1.2%, and Saudi Aramco shares fell slightly. However, trade in Saudi Arabia remains stable for now.
In the financial markets, in the morning, oil futures rose by 3-4%, stock futures fell by 1%, and gold prices rose by 1%. Also, the dollar and US government bonds are increasing in price, which indicates an increased demand for defensive assets. Markets will follow the development of events and the possible impact on the world economy. 🌍📊
#economy #news