Euphoria on the European defense companies shares 📈Rheinmetall and BAE Systems surge 13%

Shares of defense giants such as German Rheinmetall (RHE.DE), Norway's Kongsberg Gruppen and the UK's BAE Systems (BAE.UK) are the best performers on the European market today; the companies' shares are up 13%, 12% and 14% respectively, reaching new historic highs. After Zelenskyy's visit to the US, the markets are coming to the conclusion that the focus of taking responsibility for stabilizing Ukraine will shift to Europe, and the Old Continent will have to drastically increase defense spending - in any of the analyzed scenarios.

RHM.DE (D1 interval)

Rheinmetall shares opened today with a huge upward gap and are trading at new historic highs near €1150 per share. The company is Europe's largest producer of 155mm cal. Artillery munitions.

Source: xStation5