Australian defense stocks climb on US-Iran conflict

DroneShield

02/03/2026 24:38

** 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;))