May 21 (Reuters) – European space stocks surged on Thursday, buoyed by investor excitement after Elon Musk’s SpaceX filed for a stock market listing, lifting sentiment across the sector. Shares in French satellite operator Eutelsat jumped 10% in early trading, while German satellite maker OHB rose 12% and Luxembourg’s SES gained 3.5%. Eutelsat and OHB […]
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Space stocks go into orbit as Musk mega IPO nears lift-off
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May 21 (Reuters) – European space stocks surged on Thursday, buoyed by investor excitement after Elon Musk’s SpaceX filed for a stock market listing, lifting sentiment across the sector.
Shares in French satellite operator Eutelsat jumped 10% in early trading, while German satellite maker OHB rose 12% and Luxembourg’s SES gained 3.5%.
Eutelsat and OHB have risen 20% and 32%, respectively, this week. SpaceX’s initial public offering (IPO) filing on Wednesday is driving positive sentiment for European satellite stocks, one trader told Reuters.
(Reporting by Gianluca Lo Nostro and Danilo Masoni; Editing by Matt Scuffham)