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Investing.com -- European defense shares rose on Wednesday following comments by U.S. President Donald Trump signaling stronger support for Ukraine’s territorial recovery.
Trump expressed confidence that Ukraine could reclaim all territories lost to Russia, including Crimea and parts of Donetsk and Luhansk, with backing from NATO and the European Union.
This marked a significant rhetorical shift from his earlier position, which had been more cautious regarding territorial concessions.
Shares of Saab, Hensoldt, Renk Group, Leonardo, Thales, Rheinmetall, Dassault Aviation, QinetiQ, and BAE Systems were up between 1.6% and 4.7% at 04:20 ET (08:20 GMT).
The European aerospace and defence index climbed by 0.8%, contrasting with a broader downturn in the STOXX 600 index, which slipped by 0.45%.
Trump also criticised Russia’s military capabilities, describing them as a “paper tiger,” and underscored NATO’s crucial role in deterring Russian aggression.
European leaders, including French President Emmanuel Macron, welcomed the statement as an opportunity to bolster pressure on Russia amid its ongoing economic and military challenges.