0738 GMT - The U.K.'s BAE Systems and France's Thales are the top picks among European arms makers for Deutsche Bank analyst Christophe Menard, following Donald Trump's victory in the U.S. presidential election. Trump is expected to increase U.S. defense spending more than what the Democrat candidate Kamala Harris would have, he notes. This should benefit BAE Systems, as 42% of the company sales are exposed to the U.S., Menard writes in a note to investors. "We remain convinced that the European defence industry faces structural growth in years to come, but the U.S. elections are adding a dose of volatility," he says. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
November 07, 2024 02:38 ET (07:38 GMT)
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