European Defense Stocks Surge After Leaders Aim to Broker Ukraine Peace Plan
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.