Several European financial firms cut ties with Israeli companies

Several of Europe's biggest financial firms have cut ties with Israeli companies or those linked to the country, according to a Reuters analysis of filings.

The move comes amid mounting pressure from activists and governments to end the war in Gaza.

UniCredit put Israel on a "forbidden" list as the conflict escalated in October last year, said a source familiar with the matter, confirming a study by Dutch NGO Pax.

Meanwhile, Norwegian asset manager Storebrand and French insurer Axa have divested from some Israeli firms, including banks.

"We don't know whether this represents the beginning of a shift in the industry, one that recognises the power banks have in choosing where to allocate capital and where not," said Martin Rohner, executive director of the Global Alliance for Banking on Values, which focuses on sustainable financing.