0829 GMT - European defense stocks advanced considerably in opening trade Monday, after a weekend full of remarks signaling big jumps defense spending. NATO Secretary General Mark Rutte said the alliance's spending target will be "considerably more than 3%" of GDP, while European Commission President Ursula von der Leyen told the Munich Security Conference that the EU's executive arm wants to exempt defense from EU government spending limits. Germany's Renk Group shares are up 12.1% at 28.08 euros, while Rheinmetall shares rise 8.4% to 885.8 euros, and Hensoldt is up 6.52% at 43.33 euros. In the U.K., BAE Systems advances 5.25% to 12.93 pounds, while QinetiQ rises 3.42% to 3.81 pounds. Italy's Leonardo is up 4.32% at 33.05 euros. In France, shares in Thales are up 3.75% at 171.55 euros, and Dassault Aviation is up 3.84% 227.20 euros. Sweden's Saab is also on the rise, up 6.5% at 260.5 Swedish krona. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
February 17, 2025 03:30 ET (08:30 GMT)
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