Europe’s Biggest Defence Firms Experience Soaring Success Amid Ongoing Wars
- BAE Systems Seeing 10% Increase in Shares
- Saab, Rheinmetall, Thales, and Leonardo Also Witness Similar Gains
- Stocks of These Companies Have Risen by 93% to Over 200% Since the Start of 2022
Europe’s biggest defence firms have seen a significant increase in their value, with more than £8 billion being added since the recent attack by Hamas on Israel on October 7th.
BAE Systems, the leading defence company in the UK, experienced a 10% rise in shares last week. Likewise, Saab in Sweden, Rheinmetall in Germany, Thales in France, and Leonardo in Italy all observed similar gains.
BAE Systems’ value rose by £3 billion, reaching £32.8 billion in total. Rheinmetall, the world’s top ammunition producer, saw its valuation increase by £1.3 billion, bringing it to £10 billion by the end of the week.
Surge: Since the start of 2022, defence stocks have risen by between 93 per cent and over 200 per cent
The surge in share prices is attributed to the expectation that the ongoing conflicts will increase defence spending. These stocks have seen a growth of 93% to over 200% since the beginning of 2022, adding over £40 billion to their combined value.
In addition, major oil companies like BP and Shell experienced a surge in their shares due to concerns about potential disruptions in oil supplies from the Middle East.
Hamas launched a significant military assault on Israel, resulting in over 1,000 casualties. In response, Israel launched air strikes on the Gaza Strip, leading to over 2,000 deaths.
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