European defense stocks rise after Trump's statements on war in Ukraine
European stocks opened down on Wednesday, September 24, but the defense sector showed growth after the latest comments from the US president Donald Trump on the war in Ukraine. About this writes CNBC.
The Stoxx Europe Aerospace and Defense index was up 1.1%. The biggest gainers were Swedish company Saab (+5%), German tank parts manufacturer Hensoldt (+4.5%) and Swedish MilDef Group (+3.4%).
Trump said that Ukraine can regain control over its entire territory with the support of the EU and NATO.
During a meeting with the President of Ukraine Volodymyr Zelenskyy at the UN General Assembly, he also supported the right of NATO countries to shoot down any Russian aircraft that violate their airspace.
At the same time, investors are concerned about the market on a global scale. US Federal Reserve Chairman Jerome Powell said that asset prices, including stocks, are at an overvalued level.
Asian stocks fell overnight, while US stock futures remained stable.
- At a meeting with President Zelensky, Trump said that Ukraine successfully stops the Russian army at the front, which is trying to advance.
- Zelensky then noted that Ukraine is waiting for the US to act, that will force Russia to move towards peace.
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