Eutelsat shares jump as Ukraine flags curbs on Starlink military-grade service

Eutelsat Communications SA

14/10/2026 11:53

Oct 14 (Reuters) - Shares in European satellite operator Eutelsat ETL.PA rose sharply on Wednesday after Ukraine said SpaceX's SPCX.O Starlink had introduced restrictions on its military-grade service, fuelling investor bets that European providers could benefit from growing strains between Washington and Kyiv.
Eutelsat shares were up 11.6% by 1034 GMT, while Luxembourg-based rival SES SESFg.LU, which also provides satellite connectivity services, gained 2.7%.
Analysts said the move reflected investor expectations that European governments and customers could seek alternatives to US-owned space assets if access to American services becomes less certain.
"I think this is related to the US administration's favourable Russia/unfavourable Ukraine stance that has developed in recent days, meaning no or limited access to U.S.-owned satellite services and intelligence sharing, putting European providers back in the spotlight as potential alternatives," Bernstein analyst Aleksander Peterc said.

(Reporting by Hugo Lhomedet and Gianluca Lo Nostro in Gdansk; Editing by Milla Nissi-Prussak)
((gianluca.lonostro@thomsonreuters.com))