Shares in BAE Systems, Rheinmetall and Saab soar, as Keir Starmer offers to put British ‘boots on the ground’ in UkraineUK firms mull biggest layoffs in a decade as business confidence slumpsHere’s Bloomberg on the jump in Rheinmetall’s share price this morning:Rheinmetall AG’s shares surged the most in more than two years as European officials contemplate a major new package to increase defense spending and support for Ukraine.The German manufacturer’s stock rose as much as 11% in Frankfurt. The shares have more than doubled over the past year as military orders increased, especially from Germany. If Europe moves to increase spending further, it could push Rheinmetall to accelerate plans to increase its production capacity. Continue reading...
European defense stocks surged by €18 billion, reaching a record high, driven by anticipation of increased military spending ahead of Ukraine peace talks. Companies like BAE Systems, Rheinmetall, and Saab saw significant stock gains. Leaders such as Keir Starmer and Ursula von der Leyen emphasized the need for heightened defense spending, reflecting concerns over national security amid the Ukraine crisis. The rise in defense stocks also highlighted declining business confidence across Europe.
