Share prices in European weapons companies have soared as investors anticipated significantly higher spending after the UK and France led an effort to form a peace deal for Ukraine.
Britain’s BAE Systems rose by 15% on Monday, Germany’s Rheinmetall gained 14%, France’s Thales increased 16% and Italy’s Leonardo was also up 16%. In London the surge in defence related shares helped to push the FTSE 100 to a new record high. It closed up 0.7% at 8871.31.
