The defense sector is standing out today with broad-based gains across European trading floors. Defense stocks are advancing widely and are leading the way on nearly every exchange. In Norway, shares of Kongsberg Gruppen are climbing, while in Sweden SAAB is up nearly 4%. In Germany, RENK Group and Hensoldt are posting strong gains, with Rheinmetall retesting highs from earlier this year. In the UK, BAE Systems and Rolls-Royce are on the rise. Meanwhile, in Italy, Fincantieri is up more than 5%, and Leonardo is advancing close to 3%.
Drone incidents in Europe, combined with comments from former U.S. President Donald Trump — who stated that Ukraine, with unwavering NATO support, could reclaim all territories seized by Russia — along with the prospect of a “hybrid” escalation in Eastern Europe, suggest that defense companies are likely to secure large contracts for many years to come. After an almost 30% correction, shares of Germany’s largest defense contractor Rheinmetall have rebounded and are holding at historic highs near €2,000 per share.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile app
Source: xStation5
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
