SYDNEY — Shares of Austal Ltd. climbed more than 7% on Tuesday, extending a recovery for the Australian defense shipbuilder as investors weighed potential interest in its U.S. operations.

Austal shares rose 0.295 Australian dollars, or 7.55%, to A$4.205 in afternoon trading. The stock traded between A$3.99 and A$4.27, with nearly 2.5 million shares changing hands. The company's market value stood at about A$1.8 billion.

It was not immediately clear whether Austal had released new information to the market Tuesday. The shares remain down nearly 38% over the past year.

Based in Henderson, Western Australia, Austal designs, builds and supports naval and commercial vessels, including warships, patrol boats and support vessels. It operates major shipyards in Australia and the United States, along with facilities in the Philippines and Vietnam.

The company also provides command and control systems, communications technology and maintenance services for vessels........

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