Shares in Thyssenkrupp's naval unit surged Monday as it was spun off from the German industrial giant, highlighting the buzz around European defence firms as the continent rearms amid a growing Russian threat.
Submarine- and warship-maker TKMS, previously known as Thyssenkrupp Marine Systems, saw its share price jump from around 60 euros ($70) to over 80 in early trading in Frankfurt, giving the firm a valuation of over five billion euros ($5.8 billion).
