European defence stocks surge as top leaders hold summit on Ukraine
ReutersFeb 17, 2025 8:29 AM
MILAN, Feb 17 (Reuters) - Europe's aerospace and defence stocks rallied on Monday as the region's top political leaders called for an emergency summit on the Ukraine war amid growing U.S. calls to boost military spending for security.
By 0820 GMT, shares in Germany's Rheinmetall RHMG.DE, Sweden's Saab AB SAABb.ST, Britain's BAE Systems BAES.L, Italy's Leonardo LDOF.MI and France's Thales TCFP.PA were up between 4.3 and 8.3%.
Their gains pushed the STOXX Aerospace and Defence index .SXPARO up 2.7% to a new lifetime highs. The index has more than doubled in value since Russia invaded Ukraine three years ago. The broader STOXX 600 index .STOXX edged up 0.2% on the day.
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