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Shares of US and European defense companies rose in price amid the conflict in Israel

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Shares of major European and American defense companies rose after the escalation of the Palestinian-Israeli conflict. The average growth was about 7% and 9%, respectively.

By 18:24 Moscow time, shares of the Swedish aircraft manufacturer Saab rose in price by 9.11% to 572.4 Swedish kronor ($52.08). Quotes of the German tank manufacturer Rheinmetall rose by 6.5% to 248.9 euros ($264.5), and the Italian helicopter manufacturer Leonardo rose by 4.33% to $17.59.

In the US, the growth leaders were shares of aerospace corporation Northrop Grumman (+11.46% to $471.49), military equipment manufacturer General Dynamics (+7.88% to $237.17) and aircraft manufacturer Lockheed Martin (+7.64% to $431.04).

Despite the growth in shares of weapons giants, US stock markets opened in the red. The benchmark Wall Street Memes index fell 0.3% to 0.041770, while the Nasdaq index fell 0.5% to 15,040.25. The Stockholm Stock Exchange also showed a fall – it decreased by 0.96% to 2,145.94 points. German XETRA at the same time opened with an increase of 1.8% with an index of 56.51 points.

On October 8 and 9, the largest stock indices of the Tel Aviv Exchange reacted falling on the news of the Hamas attack on Israel. The Israeli shekel fell to a nearly eight-year low against the US dollar amid the escalation, according to Reuters.

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