European defence stocks selloff deepens on Ukraine peace talks

RENK AG

24/11/2025 08:17

Nov 24 (Reuters) - Shares in European arms makers fell for a second day on Monday as the U.S. and Ukraine were set to continue work on a plan to end the war with Russia.

In a joint statement released after talks in Geneva on Sunday between U.S. and Ukrainian delegations, the two sides said they had drafted a "refined peace framework" although they did not provide specifics.

An index of aerospace and defence companies .SXPARO was down 0.6% at 0813 GMT at its lowest since late August, after falling 3.4% on Friday to log its biggest weekly loss since March.

Monday's move compares with a 0.6% rise on the wider European STOXX 600 .STOXX index.

Shares in Germany's Renk R3NK.DE were down around 3%, following a 6% slide on Friday. Sensor systems maker Hensoldt HAGG.DE was also down some 3% after falling 6.6% on Friday.

Rheinmetall RHMG.DE slipped 2.3%, while Italy's Leonardo LDOF.MI, Sweden's Saab SAABb.ST and France's Thales TCFP.PA were down between around 0.5% and 2%.

(Reporting by Anna Pruchnicka; Editing by Amanda Cooper)

((anna.pruchnicka@thomsonreuters.com; +48 58 769 65 14;))