Investors expect fighting could spill across borders
Investors last week flocked to exchange-traded funds tracking defense companies in the United States and Europe on expectations that the) saw net inflows of $7.2 million for the week ended Oct. 11, after seven straight weeks of outflows, according to Lipper data.“Defense stocks rose on the back of the shock of last weekend’s events ... for many investors it makes sense to have defense exposure as a hedge against geopolitical shocks,” said Hector McNeil, co-CEO and founder of HANetf.
Authorities in Gaza said at least 2,750 people had been killed in Israeli strikes that followed an attack by Hamas militants on the country on Oct. 7 that killed 1,300 people. “If the fighting unfortunately endures longer, investors will further turn to weapons and defense suppliers,” said Todd Rosenbluth, head of research at VettaFi.
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