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Analyst: European defense stocks decline due to ceasefire news between Israel and Hamas.
Jin10 data reported on October 9 that European defense stocks fell in early trading after U.S. President Trump stated that Israel and Hamas agreed to a first-phase ceasefire plan. AJ Bell's investment director, Russ Mould, said this pullback may just be a slight profit-taking after the previously strong rise in the defense zone. He said: “Russia began military operations in Ukraine in 2022, prompting more investors to follow defense stocks, and then geopolitical tensions in other parts of the world intensified, leading governments to invest more in military and intelligence capabilities.”