1207 GMT - The NATO alliance must increase defense spending, not only because the U.S. is demanding it, but because "the threat coming from Russia and other adversaries is increasing," NATO's Secretary General Mark Rutte tells reports in Brussels. There is a "clear convergence" emerging among NATO members on the need to end the Ukraine-Russia war as soon as possible, and strengthen Ukraine ahead of potential ceasefire talks, he says. It is crucial that Ukraine is involved in any such talks, Rutte adds. Most European defense stocks are rising in midday trade, after some decreases in the early morning following a call between U.S. President Donald Trump and Russian President Vladimir Putin. BAE Systems' shares advance 2.9%, Rheinmetall shares are up 1.95%, shares in Leonardo rise 1.5% and Hensoldt shares are up 0.8%. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 07:07 ET (12:07 GMT)
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