European Defense Stocks Surge After Leaders Aim to Broker Ukraine Peace Plan
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This year’s fierce rally in European defense stocks found new legs Monday after leaders on the continent met over the weekend to forge a peace plan for Ukraine, during which they pledged to ramp up defense spending. Shares in companies including France's Thales, Germany’s Rheinmetall, Italy’s Leonardo and Sweden’s Saab each surged 11% or more. The German arms maker Rheinmetall has climbed more than 85% in 2025, making it the best performer in the Stoxx Europe 600.
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