FRANKFURT (dpa-AFX) - A planned closer cooperation with the US defense contractor Lockheed Martin helped Hensoldt shares to a daily high on Monday. In a strong market environment for defense stocks, the shares of the defense electronics specialist rose to 35.50 euros. This is the highest level since mid-August. Most recently, the shares were trading at 35.34 euros, up almost six percent.

Armaments stocks were generally still in demand at the start of the week. Investors are betting that European countries will have to invest more in their own defense after Donald Trump won the US presidential election. In the past, Trump had repeatedly demanded higher defense spending from European allies and threatened consequences if this was not implemented. Rheinmetall gained 3.5 percent and Renk 2.5 percent on Monday.

Hensoldt announced on Monday afternoon that it had signed a letter of intent with Lockheed Martin regarding cooperation in the field of maritime command and control systems and radar technologies. "We are already working together successfully on various projects. We are therefore all the more looking forward to working with the Lockheed Martin team to drive forward pioneering technologies in the field of maritime command and control systems and radar," said Hensoldt CEO Oliver Dorre according to the press release.

Lockheed Martin is known for its F-22 and F-35 fighter aircraft, among other things./mis/ngu/he