By Adriano Marchese
Shares of MDA Space shares rose as investors flocked to defense names, after U.S. and Israeli strikes on Iran over the weekend deepened geopolitical tensions across the Middle East.
The stock climbed 3.8%, to 41.04 Canadian dollars (US$30.08), Monday morning. It has gained about 54% so far this year.
The conflict has been deepening since the U.S. and Israel launched join attacks on Iran which was met with counter-strikes on Israel and other regional allies.
MDA, the Canadian space-technology and robotics company, recently has been expanding further into defense-related offerings.
Last week, the company launched a new subsidiary, 49North, which aims to offer secure, multi-domain command, control, communications, computers, intelligence, surveillance and reconnaissance, also known as C4ISR.
The new subsidiary will also look to deliver technologies essential to defense missions for Canada's national military priorities outside the space domain.
Other stocks in the defense sector also ticked up on the conflict. Lockheed Martin jumped 3% and Northrop Grumman rallied 4.2% in early trading Monday. L3Harris Technologies was up 2.6% and General Dynamics rose by 1.4%, nearly all of them easing from earlier highs.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 02, 2026 11:17 ET (16:17 GMT)
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