A Rheinmetall MAN Military Vehicle on Nov. 20, 2024, in Donetsk Oblast, Ukraine.
Yan Dobronosov | Global Images Ukraine | Getty Images
European defense stocks fell on Monday as Ukraine and the U.S. made progress on peace proposals over the weekend.
The Stoxx Europe Aerospace and Defense index was 0.8% lower at the start of the trading session.
Germany’s Rheinmetall, Hensoldt, Renk and Sweden’s Saab were all trading toward the bottom of the pan-European Stoxx 600 index.
The U.S. said Sunday that there had been progress in talks at the weekend, which were attended by U.S. Secretary of State Marco Rubio, but that no agreement was reached on security guarantees for Ukraine.
The U.S. and Ukraine agreed that the consultations were “highly productive,” the countries said in a joint statement released on Sunday.
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