European Defense Stocks Fall
Trump welcomed Zelensky in Miami on Sunday for another round of talks on a potential peace framework. Earlier that day, Trump had spoken by phone with Russian President Vladimir Putin.
At a joint press briefing afterward, Trump stated that a peace agreement was “95% ready” and that both sides were “very close” to finalizing it, with “one or two very thorny issues” still unresolved.
The announcement had an immediate effect on European military stocks. By midday Monday (12pm GMT), the STOXX Europe Total Market Aerospace & Defense Index had declined by 1.8%.
Shares of Rheinmetall, Germany’s largest weapons producer and a major supplier to Kiev, dropped 2.3%.
Other defense companies also saw losses: Renk, a manufacturer of tank components, fell 2.4%, while defense-electronics firm Hensoldt slipped 2%.
Italian aerospace and defense group Leonardo recorded a 3.5% decline. In the UK, BAE Systems dropped 1.2%, French defense giant Thales shed 1.3%, and Swedish arms producer Saab lost 1.7%.
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