Exail Technologies rises on Strait of Hormuz mining fears

Exail Technologies SA

11/03/2026 11:26

** Shares in French underwater drone maker Exail Technologies EXA.PA rise about 5% driven by concerns over a possibility of Iran's mining the Strait of Hormuz

** "This is mainly linked to what is currently happening in the Middle East and with Iran, which is said to be laying mines, or at least attempting to do so in the Strait of Hormuz," Oddo BHF analyst Aurelien Sivignon says

** He highlights that one of Exail's main products are underwater demining drones

** In a note published on Monday, TP ICAP Midcap said that if Iran were to mine the Strait of Hormuz, Exail would suddenly become highly strategic for a group of countries it already works with like the UAE and Qatar

** "Furthermore, new countries such as Oman, Qatar and Kuwait could turn to Exail's solution," TP ICAP Midcap added in the note

(Reporting by Hugo Lhomedet)

((hugo.lhomedet@thomsonreuters.com))