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).

Defence budgets have swelled across Europe, with the region spooked by Russia's full-scale invasion of Ukraine as well as US President Donald Trump urging Europe to take more responsibility for its security.

"This not only marks a corporate milestone but is also a strong signal for maritime safety and stability," TKMS CEO Oliver Burkhar

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