European defense stocks rise as US pushes for increased NATO defense spending.

The stock prices of European defense companies rose again on Thursday, with US Defense Secretary Hagehgesis stating that NATO allies are close to reaching consensus on the 5% defense spending target. Meanwhile, German Defense Minister Boris Pistorius stated that Germany needs to increase military spending by about a third. As of 4:07 PM Frankfurt time, Rheinmetall rose 3.6%, Hensoldt rose 6.6%, Saab rose 4.8% in Stockholm, Leonardo rose 3% in Milan, BAE Systems rose 1.3% in London, and Kongsberg rose 4.5% in Oslo.