Defense companies, winners in Israel-Palestine conflict
In the conflict between Israel and Palestine there are clear winners, these are the defense companies, whose shares have increased in value thanks to the conflict.
The S&P 500 Aerospace & Defense Industry advanced 4.03%. Among the companies that make it up, Northrop Grummana military contractor, gained 11.43%, the shares L3Harris Technologieswhich is oriented towards defense technology, advanced 9.93% and those of Lockheed Martin, from the aerospace and military branch, 8.93%. Other players in the military industry who also rose were General Dynamicsits shares advanced 8.43%; Raytheon Technologiesrose 4.62% and Leidos Holdings gained 3.77%.
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Shares of these companies are also available in Mexico; Through the SIC you can acquire Northrop Grumman titles, from the aerospace and military industry, which in local currency cost 8,588 pesos; or those of Leidos Holding that are around 1,613 pesos or General Dynamics that cost 3,942 pesos.
The armed conflict between Israel and Palestine increased uncertainty in the markets. He dollar strengthened, which affected currencies such as the Mexican peso. During the session, the exchange rate reached a maximum of 18.42 pesos, however, it managed to close at 18.16 pesos, slightly below the 18.18 pesos on Friday.
Oil prices rose. The WTI barrel gained 4.24%, closing at $86.30, as there is speculation regarding the impact that the conflict may have on crude oil production.
Faced with the tensions, investors sought refuge assets. Gold closed at $1,861.59 per ounce, an increase of 1.56%. On the other hand, the S&P/BMV IPC closed in negative territory, with a fall of 0.74%, the stocks with the greatest losses were those of Volaris, with a fall of 5.71%, Walmex with 5.20% and Axtel with 4.76%. In the US, the main indices had gains.
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