0859 GMT - Shares in major European defense groups are in decline after Ukrainian President Volodymyr Zelensky said he would be waiting for Russian President Vladimir Putin in Turkey later this week. Defense stocks have grown exponentially since Russia's invasion of Ukraine ushered in a stream of orders for ammunition and other military hardware, but the prospect that Kyiv and Moscow could engage in peace talks is now weighing on sentiment. Shares in Germany's Rheinmetall are down 5.6%, with Renk Group 7% lower and Hensoldt shedding 10%. Shares in Italy's Leonardo drop 5%, while France's Thales falls 3.4%. In the U.K., shares in BAE Systems are down 2.5%. Babcock International Group stock loses 1.9%. (mauro.orru@wsj.com)

(END) Dow Jones Newswires

May 12, 2025 04:59 ET (08:59 GMT)

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