Global investors may be underpricing the impact of a conflict between Israel and Iran, market watchers warned on Monday, as stocks rallied despite escalating warfare in the Middle East. The two regional powers continued trading fire on Monday, marking the fourth consecutive day of fighting since Israel launched airstrikes against Iran last week. Despite the continued fighting — with hundreds reported dead — global stock markets sustained a positive momentum on Monday, seemingly shrugging off broader concerns about the conflict. Russ Mould, investment director at AJ Bell, warned on Monday that there was a risk markets were underpricing “the risk...