STOXX 600 RISES ON DEFENCE STOCKS AS TECH LOSSES SPURRED BY US CHIP CURBS ON CHINA
European shares advanced on Tuesday, as gains in defence stocks outweighed technology losses spurred by concerns over U.S. chip curbs on China. The pan-European STOXX 600 index rose 0.3% by 0930 GMT, driven largely by a jump in the European aerospace and defence index. German arms makers Hensoldt, Rheinmetall, and Renk jumped 2.9%, 3.1%, and 7.1%, respectively.
- The rise in defence stocks highlights the growing importance of European defence spending, particularly in the face of increasing tensions with China.
- Will the increased focus on defence investments lead to a shift away from sustainable technologies, potentially exacerbating environmental concerns?