Jan 8 (Reuters) – Shares in European arms makers rose on Thursday to a fresh record high after President Donald Trump called for higher U.S. defence spending.
Trump said on Wednesday that after negotiations with U.S. senators and political representatives, he has determined that the military budget for next year should be $1.5 trillion.
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An index of aerospace and defence companies (.SXPARO), opens new tab was up around 2% by 0816 GMT, hitting a new all-time high.
Britain’s BAE Systems (BAES.L), opens new tab rose around 6% while Chemring (CHG.L), opens new tab was 4% higher, Italy’s Leonardo moved up some 5%.
Germany’s Rheinmetall (RHMG.DE), opens new tab, Renk (R3NK.DE), opens new tab each rose around 3%.
Reporting by Anna Pruchnicka, editing by Alun John
Defence stocks in Europe at all-time high after Trump calls for higher US defence budget
