Big rises for BAE, Rheinmetall, Thales and Leonardo amid European push to support possible Ukraine peace deal

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European weapons company share prices surged on Monday as investors anticipated significantly higher spending after the UK and France led an effort to form a peace deal for Ukraine.

Britain’s BAE Systems rose by as much as 17% on Monday morning, Germany’s Rheinmetall gained 14%, France’s Thales increased 16% and Italy’s Leonardo was up 10% in early trading.