Today, we can see a spreading selling pressure (and profit-taking) among top, European defence stocks after Trump-Zelensky-Macron yesterday meeting in Paris, and Donald Trump call on Truth Social platform, where US president-elect claimed that the war in Ukraine will have to end. After meeting with Trump and other European politicians, Zelenskyy conceded that Ukraine will be not accepted as a member of NATO for the time being. For global markets, it may be a positive signal of weakening NATO - Russia tensions.
Markets see those meetings as a one step closer to negotiations with Russia. Also, during the last days we didn't have huge military escalation on Ukraine's Eastern border, which may be seen as a potential deadlock or at least short-term 'pause' in the conflict. German top military producers Hensoldt and Rheinmetall loses today 5% and 4% respectively. Also, Italian Leonardo declines more than 3% while British BAE Systems, and French Dassault Aviation losing almost 2%.
Rheinmetall (D1) and Hensoldt (H1)
Source: xStation5
Source: xStation5
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