(Bloomberg) -- European defense stocks slid on Monday, paring some big year-to-date gains, after a weekend report from local media suggested that Germany...
-- European defense stocks slid on Monday, paring some big year-to-date gains, after a weekend report from local media suggested that Germany will no longer grant new requests for aid to Ukraine in an effort to rein in spending.The government pushed back against the claim in a press conference on Monday, saying that the country would continue to support Ukraine in its defense against Russia’s invasion for as long as necessary.
A basket of defense-exposed European shares tracked by Goldman Sachs Group Inc. dropped as much as 3.4%, still up 46% this year after investors piled into the sector amid global geopolitical unrest.The Frankfurter Allgemeine Zeitung reported on Saturday that while existing German aid programs to Ukraine should generally continue, additional applications for military support will not be approved. It cited government documents, emails and unidentified officials.
A spokesperson for Rheinmetall declined to comment on the German government’s budgetary discussions, but said the defense firm would continue its close and strategic partnership with Ukraine, noting that other NATO and EU member states were also among its customers.Sports Betting Is Legal, and Sportswriting Might Never RecoverThe biggest news stories this morning: Fortnite returns to iOS, How to choose the best TV for gaming right now, Microsoft boosts Windows’ FAT32 partition size limit.
Trump latest: Fury as Trump reposts AI Taylor Swift ‘endorsement’ while George Santos to learn his fate in courtAn archaeology student unearthed seven “spectacular” Viking-era curled silver arm rings earlier this year north of Denmark's second-largest city, a Danish museum said on Monday, adding the finding has ties to Russia, Ukraine and the British Isles.
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