European stock markets have opened positively, bolstered by a rally in defense stocks, particularly in the aerospace sector. BAE Systems, Rolls-Royce, and German arms maker Rheinmetall all posted significant gains. The FTSE 100 index showed a healthy increase, while Germany's DAX and France's CAC also rose, reflecting a broader market optimism. Simultaneously, cryptocurrencies surged, fueled by prospects of a new US strategic reserve, while European leaders announced a coalition effort to support peace efforts in Ukraine amid geopolitical tensions.
European stock markets have shown a notable upward movement, primarily driven by significant gains in defense stocks like BAE Systems, which soared by more than 16%.
Germany is positioned as a key player in Europe's defense spending expansion, with potential plans for two special funds aimed at bolstering defense and infrastructure.
In addition to defense stocks, cryptocurrencies have surged in value, notably on news of the inclusion of Bitcoin and others in a new US strategic reserve.
The discussions among European leaders resulted in a coalition, led by the UK and France, to push for peace in Ukraine amid ongoing conflicts.
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