0855 GMT - Investors in the European defense sector are awaiting the results of the U.S. presidential election in less than a month, but stocks should continue to grow, Morgan Stanley analysts write in a research note. A victory by Kamala Harris could yield policy continuity for the defense sector, while a potential return of Donald Trump to the White House could have mixed implications, the analysts say. The sector is up 26% year-to-date, but down about 10% in the past three months, due to reports of a potential de-escalation in the Ukraine war. German arms maker Rheinmetall and British defense blue-chip BAE Systems are best placed, the analysts add. Rheinmetall's shares are up 1.6% at 481 euros, while BAE System's London shares are up 1.2% at 12.8 pounds. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
October 14, 2024 04:55 ET (08:55 GMT)
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