Gulf markets dip in sign of investor concern after Iran attacks Israel By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Source: Investing.com
Gulf Market Reaction to Iran's Attack on Israeli Territory:
- Gulf markets were slightly down following Iran's attack on Israeli territory.
- Saudi Arabia's benchmark stock index fell by 1.8% in early trading, while the Qatari index was down by 1.6%.
- Tel Aviv's indexes remained flat to marginally lower in early trade.
- Concerns about wider regional conflict arose due to Iran's retaliatory drone and missile attack.
- Investors are monitoring the situation for potential escalation or de-escalation of the conflict.
Impact on Financial Markets:
- Brent crude futures rose to $90.45 a barrel amid concerns of Iran attacking Israel.
- Gold prices reached a record high above $2,400 an ounce due to safe-haven demand.
- MSCI's global share index hit new highs since the conflict between Iran-backed Hamas and Israel began on Oct. 7.
- Saudi Arabia's main index rose by about 20% from Oct. 8 until its last close before Eid al-Fitr holidays.
- Qatar's benchmark index fell nearly 0.8% during the same period.
Regional Market Performance:
- Kuwait's benchmark index was down by 0.9%.
- Oman's index lost 0.2%.
- Bahrain's main index saw a gain of 0.9%, bucking the downward trend observed in other Gulf markets.
Analyst Views on LCO
Wall Street analysts forecast LCO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for LCO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 27.375
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Current: 27.375
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
