European defense stocks rose after Thales, Dassault Aviation and Indra reported higher half-year revenue or orders, underscoring the region's defense upcycle.
European defense shares advanced in early Thursday trading after Thales, Indra Group and Dassault Aviation reported stronger half-year performance, reflecting sustained demand across the sector. Dassault Aviation rose as much as 10% after reporting adjusted net sales of 4.2 billion euros ($4.8 billion) for the first half of 2026, up 46% from a year earlier. Thales and Indra each gained as much as 5% after publishing half-year earnings. Thales, Europe's biggest defense electronics group, said sales grew nearly 8% year on year while order intake rose by 22% organically to 12.47 billion euros, above the 10.48 billion euro analyst consensus previously cited by the company. The updates point to expanding revenue and order books as Europe's defense spending cycle continues amid a more uncertain geopolitical backdrop.