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How does Hamas–Israel war impact stock markets in the Middle East? Country and sector-level analysis

Author

Listed:
  • Mondher Bouattour

    (Excelia Group | La Rochelle Business School, LGTO - Laboratoire de Gestion et des Transitions Organisationnelles - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse)

  • Amine Ben Amar

    (UM6P - Africa Business School, Rabat, Morocco)

  • Néjib Hachicha

    (Faculté des Sciences économiques et de Gestion - USSGB - Université des sciences sociales et de gestion de Bamako)

Abstract

This paper investigates the sensitivity of a set of Middle Eastern stock markets to the most recent armed confrontation between Hamas and Israel. The analysis reveals a discernible negative impact across almost all markets considered, with the Israeli stock market experiencing the most pronounced effect on the event day. Interestingly, the Israeli stock market appears to be relatively more efficient than those of neighbouring countries. At the sector level, among the negatively affected sectors, the energy sector experienced the most pronounced impact. However, some sectors, notably materials, industrials, and information technology, were relatively resilient to this geostrategic shock.

Suggested Citation

  • Mondher Bouattour & Amine Ben Amar & Néjib Hachicha, 2024. "How does Hamas–Israel war impact stock markets in the Middle East? Country and sector-level analysis," Post-Print halshs-04721569, HAL.
    • Handle: RePEc:hal:journl:halshs-04721569
    DOI: 10.1080/13504851.2024.2396556
    as

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