Shares of gunmakers rise amid renewed calls for tighter controls

Shares of US gunmakers rose Monday, bucking declines in the broader market, amid renewed calls for gun-control measures following mass shootings in Texas and Ohio over the weekend.

Gun company stocks have typically traded higher after mass shootings as consumers may step up purchases to get ahead of potential regulatory changes that could make it more difficult to obtain guns. President Donald Trump earlier this morning tweeted about linking "strong background checks" and immigration reforms, although he didn't discuss gun control in later remarks on the shootings.

American Outdoor Brands, which makes Smith & Wesson firearms, rose as much as 7.5 per cent, while Sturm Ruger rose 3.8 per cent. Ammunition maker Vista Outdoor gained as much as 2 per cent earlier. The SandP 500 Index fell 2.3 per cent on rising trade tensions between the US and China. - Bloomberg