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BUZZ-Australian defense stocks climb on US-Iran conflict

Reuters
Yesterday
BUZZ-Australian defense stocks climb on US-Iran conflict

** Australian defense stocks jump following U.S.-Israel strikes on Iran over the weekend

** Rising geopolitical risk typically supports defence stocks on stronger demand

** Electro Optic Systems EOS.AX jumps as much as 16.8% to A$10.49, highest since January 27

** Laser firm secures $12 million order for R400 remote weapon systems, others

** Expects current ongoing military conflict could accelerate negotiations with several Middle Eastern governments

** Drone tech firm DroneShield DRO.AX soars more than 14% to one-month high of A$4.13

** Shipbuilder Austal ASB.AX gains as much as 4.6% to A$5.41, highest in nearly a week

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com;))

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