(ANSA-AFP) - LONDON, MAR 3 - Share prices of European defence
companies soared Monday as London and the European Union look to
ramp up military spending in the face of uncertainty over the
United States' commitment to Ukraine and NATO. BAE Systems
surged 14 percent, helping London's benchmark FTSE 100 index to
a record high, the latest in a series over recent months. French
defence group Thales won 15 percent and German peer Rheinmetall
rallied 14 percent in afternoon trade. "Europe is rallying round
Ukraine and it's hard to see defence stocks not enjoying years
of orders," noted Neil Wilson, analyst at TipRanks. European
Commission chief Ursula von der Leyen warned on Sunday that "we
urgently have to rearm Europe" as leaders from the continent met
in London for crisis talks over Ukraine. "It's now of utmost
importance we increase spending ... it's important we prepare
for the worst," she added. It came after British Prime Minister
Keir Starmer last week pledged to boost UK defence spending to
2.5 percent of the economy by 2027. (ANSA-AFP).
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