BUZZ-Australian defense stocks rise as Trump eyes $1.5 trln 2027 military budget

Reuters

01/09

** Australian defense stocks soar, tracking U.S. peers' overnight advances .N

** 2027's military budget should be $1.5 trillion, higher than $901 billion approved by Congress for 2026, Donald Trump says

** Shipbuilder Austal ASB.AX rises as much as 4% to A$8.11, highest since October 9, 2025

** Co had executed contracts with branches of U.S. military

** DroneShield DRO.AX gains as much as 6% to A$4.08, highest since November 4, 2025

** Defence tech firm executed contracts with U.S. Department of Defense

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))

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