European shares rose on Monday, led by defence stocks, as the region’s top political leaders called for an emergency summit on the Ukraine war amid growing US calls to boost military spending for security.
The pan-European STOXX 600 index was up 0.2%, as of 0815 GMT.
The benchmark logged its longest weekly gains since March 2024 on Friday.
Europe’s aerospace and defence index jumped 2.5% on the day.
French President Emmanuel Macron will host an emergency summit on Ukraine after US officials suggested Europe would have no role in any talks aimed at ending the conflict.
Britain’s BAE Systems gained 5.1%, Hensoldt gained 7.1% and Renk jumped 11.2%.
German arms maker Rheinmetall shares surged 10.7%. US markets will be shut on Monday for the Presidents Day holiday, keeping trading volumes lighter than usual throughout the day.
European shares near record high following robust earnings; BoE rate decision awaited
The week is filled with key data releases, including HCOB February flash PMI data for euro zone due on Friday.
German politics will also be in focus as Europe’s biggest economy is set to hold a snap national election on February 23.
Germany’s benchmark index was up 0.2%.
Comments
Comments are closed for this article.