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European Stock Markets Set New Record Levels as Defense Stocks Surge
European stock markets closed Tuesday, February 18, with mixed results, as several indices reached new all-time highs while defense stocks continued to climb amid expectations of increased national spending.
Record-Breaking Indices
• The European Stoxx 600 index gained 1.75 points (0.32%), closing at 557.17—a new record in a series of record-setting performances this month.
• Germany’s DAX index also reached a new high, rising by 46.41 points (0.20%) to close at 22,844.50 points.
• In contrast, the UK’s FTSE 100 index slipped by 1.28 points (0.01%) to finish at 8,766.73 points, while France’s CAC 40 index advanced by approximately 17.43 points (0.21%) to end at 8,206.56 points.
Defense and Aerospace Gains
The Stoxx 600 Defense & Aerospace index rose by 1% on Tuesday, fueled by notable increases in defense stocks. Polish defense equipment manufacturer Lubawa saw its shares jump 24%, and German defense manufacturer Renk Group recorded a 2.7% rise.
Geopolitical Developments Impacting the Markets
Geopolitical tensions were also in focus as U.S. officials began talks with Russia aimed at ending the conflict in Ukraine, though Ukrainian and European officials were excluded from the discussions. Additionally, European leaders held an emergency summit in Paris on Monday to address Europe’s marginalization in the Ukraine negotiations. While the summit led to an agreement on increasing defense spending, no consensus was reached on deploying peacekeeping forces in Ukraine following any potential agreement.
