European defense stocks fell as the market waited for the US-Russia summit.

European defense sector stocks performed poorly on Friday, as the market awaited a meeting later in Alaska between US President Donald Trump and Russian President Vladimir Putin to discuss the possibility of ending the conflict in Ukraine. A European defense stock basket from Goldman Sachs fell 1.6%, underperforming the 0.4% rise in the Stoxx 600 index. The biggest decliners included Rheinmetall, Kongsberg Gruppen, Saab, Thales, Renk Group, and QinetiQ.