European satellite stocks rally as investors reassess Starlink rivals
SES•Eutelsat shares rose 12% on Friday, taking weekly gains to 23%, while SES rose 6.7%, as limits on Starshield services in Ukraine renewed investor interest in European satellite alternatives. An order to limit Starshield services reportedly came from inside the White House.
1. Shares rise
Eutelsat shares were up 12% by 0909 GMT on Friday, bringing weekly gains to 23%. Paris-listed SES also rose 6.7%. Analysts said the Ukraine development reinforced the case for European satellite operators as governments seek alternatives to US technology.
2. European alternatives
Eutelsat operates OneWeb, a network of about 600 low-Earth orbit satellites providing broadband connectivity to governments, airlines and telecoms operators. Eutelsat CEO Jean-François Fallacher said in March that the company had sold all its capacity in Ukraine and was operating as a dual-use company, with thousands of antennas active and devices able to operate amid GPS jamming. An analyst said SES and Eutelsat can provide complementary satellite connectivity, though Europe’s IRIS² project is not expected to fully replicate Starlink’s capabilities in the short term.
