0824 GMT - European defense stocks faced pressure in early-morning trade Thursday, following the call between U.S. President Trump and Russian President Vladimir Putin over a potential cease-fire in the Ukraine-Russia war. Germany's Rheinmetall, one of the biggest beneficiaries from the conflict, is down 2.1% at 713.20 euros, while the German sensor solutions provider Hensoldt falls 7.1% at 33.38 euros, and Renk Group losses 2.2% at 23.92 euros. In the U.K., BAE Systems is down 0.3% at 12.05 pounds, and Italy's Leonardo falls 2.2% at 29.26 euros. European foreign ministers issued a joint statement Wednesday saying that they want to put Ukraine in a position of strength, but without a budgetary announcement this is unlikely to prevent significant pressure on European defense stocks, Jefferies analysts Chloe Lemarie and Ben Brown say. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 03:25 ET (08:25 GMT)
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