Deutz extends gains after Germany's defence spending approval

Steyr Motors AG

19/03/2025 08:19

** Shares of German engine maker Deutz DEZG.DE extend Tuesday's gains and rise around 9% to more than three-year highs

** The stock closed 21% higher on Tuesday after Germany's parliament approved reforms including a rollback of the debt brake to increase defence spending and a 500 billion-euro infrastructure fund

** The company, which makes engines including for construction equipment, is likely set to benefit from the fiscal reforms

** The move mirrors gains seen by Austrian peer Steyr Motors 4X0.VI, which up to Tuesday's close rose 288% since Friday

** Deutz's stock is on track for a six day winning streak

 (Reporting by Ferdinand Eibach and Marleen Kaesebier)

 ((Marleen.kaesebier@thomsonreuters.com))