1027 GMT - Europe's restocking and recapitalization of its defense industrial base looks like a pan-European fiscal priority, Citi analysts Sam Burgess and Charles Armitage say, following a summit of European leaders in London Sunday. A credible deterrent against Russia would require a very significant recapitalization and re-equipping of European militaries, the analysts note. Defense stocks will be on the rise throughout the week, as markets try to assess governments' future military budgets and the European Commission defense funding plans, they say. The latter are expected to be outlined Thursday. Germany's sensors provider Hensoldt is up 23.6% at 64.75 euros, while Britain's BAE Systems is up 13.2% at 15.91 pounds, and France's Dassault Aviation advances 12.7% at 277.8 euros. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
March 03, 2025 05:27 ET (10:27 GMT)
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