1057 GMT - A Trump victory could be good for European defense stocks, despite the consensus view that the sector would react negatively given Trump's ambition to broker peace in Ukraine, Berenberg says in a note. "Weakness on signs of a Trump victory would offer an attractive entry point into a structural growth sector." A Trump presidency would add further impetus to accelerate European defence spending, as evidenced by his first term in 2017-21. Berenberg reiterates its positive stance on the sector; with RENK Group AG its top pick. European defense stocks rise in morning trade, with BAE Systems up 4.2%, Hensoldt AG up 3.1% and Babcock Group up 4.3%. (alistair.macdonald@wsj.com)
(END) Dow Jones Newswires
November 06, 2024 05:57 ET (10:57 GMT)
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