European defense stocks fell in early trade after U.S. President Donald Trump said Israel and Hamas had agreed to the first phase of a cease-fire plan.
This fall might be a small bout of profit-taking after a strong run for the defense sector, AJ Bell’s investment director Russ Mould said.
“Russia’s invasion of Ukraine in 2022 drove more investors to look at defense stocks and a subsequent heightening in geopolitical tensions in other parts of the world led various governments to spend more money on military and intelligence capabilities,” he said.
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