German defence stocks move higher after Merz elected chancellor

RENK AG

06/05/2025 15:37

Updates share moves after second round of voting

** Shares of German defence firms regain ground after Friedrich Merz was elected chancellor by parliament on Tuesday in a second round of voting

** Leopard 2 tanks maker Rheinmetall RHMG.DE is up 0.9% at 1431 GMT, after falling as much as 5.4% earlier; Renk R3NK.DE rises 1.3% following an earlier 4.7% drop

** Thyssenkrupp TKAG.DE and Hensoldt's HAGG.DE trim earlier losses and are down 0.3% and 1.9%, respectively

** After the February election, Merz and the Social Democrats had announced a 500 billion euro ($566.20 billion) fund for infrastructure and sweeping changes to borrowing rules to bolster defence and revive growth

($1 = 0.8831 euros)

 (Reporting by Paolo Laudani, Tristan Veyet)

 ((Paolo.laudani@thomsonreuters.com))