1044 GMT - European defense stocks rose 37% on average this year and this bonanza is likely to continue through to the end of this decade, JPMorgan analysts David Perry and Lucy Fitzgerald say. This is because defense budgets are on the rise in Europe, Asia and the Middle East, as the world becomes multi-polar, they note. Recent weakness in defense share prices linked to concerns over how Donald Trump's efficiency drive might affect U.S. defense spending when he takes over as U.S. president next month offers a good entry point to investors, the analysts say. Perry and Fitzgerald highlight Melrose, Leonardo and BAE Systems as their three top picks. Many companies with strong cash flow--such as Airbus, Rolls-Royce, Thales and Leonardo--could announce share buyback programs next year, they add. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
December 12, 2024 05:45 ET (10:45 GMT)
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