LIVE MARKETS-STOXX end higher, defence leads

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STOXX ENDS HIGHER, DEFENCE LEADS

Surging defence stocks pushed Europe's STOXX 600 .STOXX index to a new record on Monday, as markets bet that European government's are set to hike military spending.

The STOXX 600 closed up 0.6% at 555.65 points, another record peak, with aerospace and defence stocks .SXPARO jumping 4.4%, the biggest one-day gain since February 2022.

Germany's DAX .GDAXI, which includes defence stock Rheinmetall RHMG.DE, surged 1.3% to also close at a new record.

Other defence names such as SAAB SAABb.ST , BAE Systems BAES.L and Leonardo LDOF.MI jumped between 8.1%-16.2%.

Elsewhere, Britain's Close Brothers CBRO.L and Lloyds LLOY.L fell 8% and 1.9% respectively after the UK Supreme Court rejected the Treasury's intervention in the motor finance case.

Wall Street is shut for the Presidents' Day holiday.

(Samuel Indyk)

EARLIER ON LIVE MARKETS:

WHAT'S NEEDED FOR SMALL-CAPS TO TURN HIGHER? CLICK HERE

HOW TO FUND MORE EUROPEAN DEFENCE SPENDING - GOLDMAN CLICK HERE

QUIET DAY, EXCEPT FOR DEFENCE CLICK HERE

BEFORE THE BELL: EUROPE STEADY, DEFENCE CHARGES UP CLICK HERE

HEY, ASIA HAS TECH SHARES TOO CLICK HERE CLICK HERE