Hanwha, Fincantieri Shares Rise as Trump Opens Navy Shipbuilding to Foreign Yards

By Mike Stone

WASHINGTON, Aug 14 (Reuters) – Shares of South Korea’s Hanwha Group and Italy’s Fincantieri rose on Friday after President Donald Trump’s directive opening U.S. Navy shipbuilding to overseas yards.

The companies have the largest U.S. shipyard footprints. Hanwha Ocean Co stock climbed 5.6% while Fincantieri SpA gained 3.2%.

Trump signed a national security memorandum on Thursday that said foreign shipbuilders that make substantial investments in U.S. shipyards and train an American workforce for the jobs they create will be temporarily permitted to build up to two ships in their parent shipyards for quick delivery.

The memo