Defense Stocks Jump as Israel Conflict Sends Jitters Through Markets
The biggest exchange-traded funds tracking the U.S. aerospace and defense sector gained Monday amid the fighting in Israel and Gaza.
Shares of defense companies leaped amid the fighting in Israel and Gaza.
Tweet on Defense stocks fluctuation amid Middle East crisis
Shares of defense companies leaped amid the fighting in Israel and Gaza, via @FactSet #defense #shares #Gaza #Israel pic.twitter.com/9p68cw6xOC
— The_Journalbiz (@the_journalbiz) October 9, 2023
Factset chart
Major U.S.-listed companies rose in early trading:
Lockheed Martin was up more than 7%, while Northrop Grumman climbed more than 10%, on track for its largest percentage increase since March 2020.
RTX was up more than 4%.
Europe’s defense companies were among the best performers in the Stoxx Europe 600 index:
BAE Systems, Italy’s Leonardo and France’s Dassault Aviation all gained more than 4%, as did Thales, which makes electronic systems and devices for the aerospace and defense industries.
German arms manufacturer Rheinmetall was up over 6%
