Shares of several European defense companies, including BAE Systems, Kongsberg Defence & Aerospace, Leonardo, Rheinmetall and Saab, are showing rapid growth, according to Tradingview. The escalation in the Middle East may be the reason for this positive trend.
According to data from the European stock exchange as of 10:11 a.m. Bulgarian time, shares of the German company Renk rose by 4.41% to EUR 59.59 per share, shares of the Italian company Leonardo rose by 5.04% to EUR 59.66 per share, Germany's Rheinmetall is trading at a price of EUR 1,720 per share (an increase of 3.31%), Sweden's Saab is trading at a price of EUR 692.5 per share (an increase of 5.82%), Hensoldt has risen by 6.99% to EUR 79.6 per share, TKMS has risen by 1.41% to EUR 97.3, and Spain's Indra has risen by 4.7% to EUR 65.7.
To At 10:15 a.m. Bulgarian time, shares of British BAE Systems rose by 6.87% to 2,254 British pence per share. Meanwhile, shares of Norwegian company Kongsberg Defence & Aerospace rose by 5.3% to 405.85 Norwegian kroner per share. As of 10:34 a.m. Bulgarian time, the STOXX index of European aerospace and defense companies fell by 2.4% to 5,992 points.
On February 28, the United States and Israel launched a large-scale military operation against Iran. Major Iranian cities, including Tehran, were hit. The White House justified the attack with alleged missile and nuclear threats emanating from Iran. At the same time, American leaders openly called on the Iranian population to rise up against their own government and seize power. The strikes killed Iran's Supreme Leader Ayatollah Ali Khamenei and several other key figures in the Islamic Republic's leadership. Iran's Islamic Revolutionary Guard Corps announced a retaliatory operation.