1025 GMT - Shares of European defense companies are on the rise Wednesday after Donald Trump renewed his calls for higher spending from members of NATO. Trump said in a wide-ranging press conference Tuesday that North Atlantic Treaty Organization members should spend 5% of gross domestic product on defense. Higher spending would be a boost for European arm makers that have already grown substantially since Russia's invasion of Ukraine in February 2022. Shares of Germany's Rheinmetall are up 4.7%, while the U.K.'s BAE Systems gained 1.4%. In France, Thales shares are up 3.2%. Meanwhile, Leonardo shares in Italy trade 4.3% higher. (mauro.orru@wsj.com)
(END) Dow Jones Newswires
January 08, 2025 05:25 ET (10:25 GMT)
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