Australia's DroneShield jumps amid Britain defense spending optimism

DroneShield

04/06/2025 04:47

June 4 (Reuters) - ** Shares of DroneShield DRO.AX up 10.4% at A$1.545

** Earlier in the session, it rose as much as 14.3% to A$1.60, its highest level since late July 2024

** Britain on Monday pledged the largest sustained increase in defense spending since the end of the Cold War

** The UK contributed 10% to the counterdrone solution provider's first-quarter revenue, according to its results in April

** Stock extends gains to a second session

** Stock up ~102% so far this year, including the day's move

($1 = 0.7393 pounds)

 (Reporting by Anjali  Singh)

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