Editorial & Advertiser disclosure

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Finance

Posted By Global Banking and Finance Review

Posted on January 8, 2025

European defence stocks rise after Trump's NATO comments

(Reuters) - European defence sector stocks rose on Wednesday after U.S. President-elect Donald Trump called for higher spending from NATO allies.

All leading European arms makers, including Rheinmetall, Dassault Aviation, Leonardo and Saab were up by 2-3%, while the pan-European defence index was 1% higher by 0910 GMT.

Stifel analysts highlighted Trump's comment that European NATO members should spend 5% of their GDP on the alliance's defence, up from the current 2% threshold.

At a Tuesday evening press conference at his Mar-a-Lago residence in Florida, Trump said allies, particularly Germany, spend too little on defence, adding that "they can all afford it".

Friedrich Merz, leader of Germany's opposition Christian Democrats, on Wednesday welcomed the idea of more defence spending but dismissed the wrangling over how much to specifically raise the NATO target by as "irrelevant".

Merz is seen as a likely successor to German Chancellor Olaf Scholz after a snap election in February.

German vice-chancellor and economy minister Robert Habeck from the Greens party said in an interview last week that Europe's top economy could spend around 3.5% of gross domestic product on defence.

Dassault Aviation's stocks were heading for their biggest single-day rise in almost three months after the Rafale fighter jet maker also reported robust 2024 orders data on Tuesday.

(Reporting by Andrey Sychev in Gdansk, Editing by Louise Heavens, Kirsten Donovan)

Recommended for you

  • Exclusive-Russian fuel exports fall in 2024 as drone attacks, bans add to sanctions pressure

  • SpaceX's Starship explodes in flight test, forcing airlines to divert

  • Factbox-What are Russia's strategic treaties with Iran, North Korea and China?