Despite a better report than expected, the Norwegian defense giant Kongsberg falls heavily on the Oslo stock exchange. The share is down over 7 percent during the morning. The morning's quarterly report showed a better profit and order intake than the market's expectations and the company writes that it sees a "record high market activity within the defense sector".
The company has at the same time started work on a robot factory in Australia and plans another one, but then in the USA where construction start will take place later this year.
The price drop comes after the share, just like many other defense companies, has gone very strong in line with announcements about upgrades around the world and it has risen about 35 percent since the turn of the year.
