European Defense Stocks Rise on Middle East Escalation Fears -- Market Talk

Dow Jones

2024-10-01

1453 GMT -- Shares in European defense companies rose after a senior White House official said Iran is preparing to launch a ballistic missile attack on Israel, in a potential escalation of the conflict in the Middle East. Germany's Rheinmetall rose 4.85% to 509 euros in late afternoon trading, while Sweden's Saab jumped 3.8% to 224 Swedish kronor, and Britain's BAE Systems rose by 2.4% to 12.68 pounds. Shares in Norway's Kongsberg Gruppen are trading 3.1% higher, while shares in German arms maker Hensoldt are up 1.9% at 30 euros. (cristina.gallardo@wsj.com)

(END) Dow Jones Newswires

October 01, 2024 10:54 ET (14:54 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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