Defense stocks in Europe and Asia surged on Monday as investors assessed how the dramatic overthrow of Venezuelan leader Nicolas Maduro could herald a significant geopolitical shift that will boost the rearmament trade in the long run.
Rheinmetall, Germany’s largest arms manufacturer, gained over 8%, while military technology and surveillance specialist Hensoldt rose more than 7%. Italy’s Leonardo added more than 5%, while German counterpart Renk added around 8%.
Swedish fighter jet maker Saab added more than 6%.
