In the wake of the Israel-Hamas war, defence stocks have soared, adding US$23-billion in market value to the sector
It’s one of the harshest and hardest-to-swallow realities of war: For some sectors of the economy, armed conflict drives value., shares of major U.S. defence companies soared, adding more than US$23-billion to the sector’s market capitalization, as investors looked to them as harbingers of increased arms spending by governments in the event of a prolonged conflict., which makes the F-35 Lightning II fighter jets used by the Israel military, as well as Sikorsky and Black Hawk helicopters;.
The ethical dilemma around capitalizing on the inflationary nature of war and the value it generates for investors in arms makers and energy companies is difficult for many people to square. In some ways, the gut punch felt by critics of defence stocks this week is similar to that when sales of firearms – especially automatic assault weapons – rise after all-too-common mass shootings in the United States, particularly at schools, where young students are the victims.
For arms makers and their investors, the dispassionate bottom-line question is whether or not the spike up prompted by the conflict in Israel will be a momentary blip or a more sustained run-up if there is a longer and perhaps broader war that spreads to neighbouring nations and beyond?
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