Europe
Europe’s Defence Sector Set for Biggest Weekly Jump Since 2020
• Europe’s aerospace and defence stocks are expected to see their biggest weekly jump since November 2020.
• The STOXX Europe Aerospace and Defence index (.SXPARO) is up 0.6%, reaching 8.4%.
• Europe is reportedly increasing its rhetoric on increasing defence spending.
• Rheinmetall RHM, Leonardo LDO, Saab SAAB_B, and BAE Systems BA. all saw gains between 7.7%-12%.
• Jefferies economist Mohit Kumar believes Europe has no choice but to significantly increase its defence spending.
• The rally may have legs, and Europe should outperform the US in the coming weeks.
