European defense stocks fall after Trump's words on Ukraine peace deal
The US President said that the outcome of the talks between the White House representatives and the Ukrainian delegation inspires him with optimism
On December 1, the defense sector turned out to be the main outsider of the leading stock exchanges in Europe. Rheinmetall in Frankfurt fell in price by 4.4%, shares of transmission and other mechanisms supplier Renk collapsed by 5.7%. Quotes Babcock and BAE Systems at the opening of trading in London fell by 2.6%. Safran and Thales in Paris were losing at the moment 1.9% and 3.3% of the value, respectively, the Italian machine builder Leonardo - 3.5%.
The negative correction in the sector followed US President Donald Trump's statement that he was "optimistic" about the outcome of talks between representatives of Ukraine and his administration on a peace deal. Speaking to reporters aboard the presidential jet, Trump acknowledged Kiev's "complicated little problems" and called the corruption scandal surrounding Ukrainian President Vladimir Zelensky "not going well" but noted "good chances of a deal."
On 30 November, US presidential special envoy Steve Whitkoff, Secretary of State Mark Rubio and other officials held a meeting with representatives of Ukraine in Florida. Rubio characterized the talks as "productive", noting "additional progress", but added that the parties "still have a lot of work to do". The head of the Ukrainian delegation, Rustem Umerov, also called the discussions "productive and successful." Whitkoff and Russian President Vladimir Putin are scheduled to meet in Moscow on Tuesday, December 2.
This article was AI-translated and verified by a human editor
