0857 GMT - European defense stocks rise after Germany paved the way to increase its defense spending. Friedrich Merz, the country's likely future chancellor, has announced a bill that would exempt military spending from Germany's strict fiscal rules. The country "will have the capacity for unlimited defense spending if needed," J.P. Morgan analysts David Perry and Lucy Fitzgerald say in a note. In Germany, Rheinmetall shares are up 2.9%, Hensoldt shares advance 6.1% and Renk Group shares increase 8.2%. In the U.K., BAE Systems shares are up 2.4%. Shares in French aerospace and defense group Thales gain 5%, while shares in Italian peer Leonardo are up 3.3%. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
March 05, 2025 03:57 ET (08:57 GMT)
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