Defense stocks gain after Iran launches missile barrage at Israel
Updates. Adds milestones, Defense ETF
** Shares of U.S. defense firms surge on Tues but off session highs as Middle East tensions intensify
** Iran fired a salvo of ballistic missiles at Israel in retaliation for the latter's campaign against Tehran's Hezbollah allies in Lebanon
** Israel's military later sounded all-clear and said Israelis were free to leave their shelters. Its spokesman said it wasn't aware of any injuries
** Lockheed Martin LMT.N last up 2.5% and RTX Corp RTX.N, formerly Raytheon, up 2.7%. Both stocks hit new record highs earlier in the session
** Northrop Grumman NOC.N up 3%, General Dynamics GD.N up 1% and L3Harris LHX.N up 3%
** S&P 500 Aerospace & Defense index .SPLRCAERO up 1.3% after it touched fresh record high. Similarly, iShares U.S. Aerospace & Defense ETF ITA.N up 1.4% after it reached all-time peak on Tues
** Boeing BA.N, an SPLRCAERO component, reverses early losses and last up 1.4%. Planemaker reportedly mulling at least $10 bln equity raise as it grapples with strike by International Association of Machinists and Aerospace Workers
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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