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Showing posts with the label “German defence”

German Defence Shares Soar

“ Shares of Germany’s listed defence contractors soared on Monday after Chancellor Olaf Scholz declared the country would pour more than €100bn into modernising its depleted armed forces.  Stock of Rheinmetall, which makes tanks and armoured vehicles for Nato countries, rose more than 30 per cent in early trading in Frankfurt, while shares in Munich-based Hensoldt, which makes electronic sensors and is part-owned by US private equity group KKR, leapt by 45 per cent.  BAE Systems shares also rose 14 per cent, hitting record highs. The British group has a joint venture with Rheinmetall.” Financial Times