European arms manufacturers are on the rise, concerns related to Greenland are worsening.

As the European continent becomes increasingly concerned about the United States President Trump's repeated assertion that the United States needs Greenland for security purposes, the stock prices of European defense companies are rising. Leading the way is Kongsberg, which is up by 6.1%. This Norwegian missile manufacturer's stock price is also benefiting from a statement by a US bank on Thursday that the company has a very relevant product portfolio that can support NATO member countries in their efforts to improve their air defense capabilities, leading to an increase in the target price of the stock from 300 kroner to 335 kroner. As for other stocks, Indra Sistemas is up 5.4%, TKMS is up 5.1%, QinetiQ is up 2.4%. Thales, Fincantieri, and Hensoldt all rose by 2.2%, Leonardo by 1.6%, and BAE Systems by 1.5%. Rheinmetall's increase is slightly behind at 0.9%.