BUZZ-European defence extends recovery after renewed U.S.-Iran attacks
Idaho Strategic Resources Inc IDR | 0.00 |
** European defence stocks extend their recent recovery as the renewed U.S.-Iran attacks dampened hopes for a peace deal in the three-month-old war
** The STOXX Aerospace & Defence .SXPARO is up 1.5%, turning slightly positive for the year after hitting a one-year low earlier this month; the index is now up 12% from that trough
** A trader says recent weakness is seen by some investors as a buying opportunity given strong sector fundamentals: "Think the sector has fallen enough"
** Germany's Hensoldt HAGG.DE, Rheinmetall RHMG.DE and Renk R3NK.DE rise 1.7-5%. Italy's Leonardo LDOF.MI, France's Thales TCFP.PA and Sweden's Saab SAABb.ST are up 1.1-2.2%
** Spanish defence firm Indra IDR.MC and Norwegian defence technology maker Kongsberg KOG.OL are up more than 2%, while BAE Systems in the UK gains 1.5%
** Warship builder TKMS TKMS.DE leads gainers, up 6.4%
