Policy drives Europe’s defence push

European defence companies emerged as a leading investment theme in the first half of 2025, rallying as the continent confirmed its rearmament plans. In August, however, stocks dipped following US-Russia talks and a potential ceasefire in Ukraine. Despite this, the foundations remain strong for investment opportunities. Regardless of a ceasefire agreement, maintaining security would require a long-term European military presence. Deterrence demands investment, and recent market dips do not reflect long-term spending commitments. Discover how Europe is reshaping its defence strategy and what...