MADRID (EFE).— The markets calmly welcomed Iran’s attack on Israel, with increases in major stock markets and declines in oil prices predominating.
Unlike what happened on Friday, when news of an imminent Iranian attack boosted the prices of crude oil, gold and sovereign bonds, the response from investors yesterday was lukewarm.
The increases prevailed in the stock markets. In Europe, Milan gained 0.56%; Frankfurt, 0.54%; Paris, 0.43%; and Madrid, 0.01%. The only exception was London, which lost 0.38%.
On Wall Street, the main indices opened higher, although at the close there was a loss of 1.79% in the Nasdaq index, amid fears that the truce in the Middle East will not last much longer and Israel will carry out its threats of retaliation.
Despite the relative calm of the markets, analysts expect a week of volatility.
“Financial markets are facing a week of high volatility, with geopolitics as the main focus,” highlighted Manuel Pinto, from XTB.
In his opinion, “as long as Iran and Israel are not heading towards a direct conflict, oil could find it difficult to break higher and consolidate one hundred dollars per barrel.”
According to Vincent Chaigneau, Director of Analysis at Generali Investments, the central scenario is that Iran’s attack, “unprecedented but calibrated, will not lead to a sharp escalation.”
“Iran’s direct action on Israel has raised fears of further escalation, but, in the absence of a full-blown crisis in the region, which is not our base case, we believe the impact on financial markets will remain contained,” Gregor said. MA Hirt, Global Head of Multi-Asset Investments at Allianz Global Investors.
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2024-05-13 22:06:43