European shares rise as investors weigh potential Russia-Ukraine peace deal
The pan-European STOXX 600 index (.STOXX), opens new tab was up 0.1%, as of 0708 GMT, with most major regional bourses in the green.
U.S. President Donald Trump told his Ukrainian counterpart Volodymyr Zelenskiy that Washington would help guarantee Ukraine's security in any peace deal to end Russia's war there, though the extent of any assistance was not immediately clear.
The pledge followed a White House meeting with European leaders, with formal guarantees expected to be finalised within the next 10 days.
German Chancellor Friedrich Merz said that Zelenskiy and Russian President Vladimir Putin would meet within the next two weeks, followed by Trump extending a three-way meeting afterward to begin negotiations.
Defence stocks (.SXPARO), opens new tab dropped 0.7%, pressured by news of a potential Ukraine-Russia summit, as hopes for de-escalation reduced demand for military-related assets.
Shares of Renk Group (R3NK.DE), opens new tab, Rheinmetall (RHMG.DE), opens new tab and Hensoldt (HAGG.DE), opens new tab slipped between 1.9% and 3.2%.
Merck (MRCG.DE), opens new tab fell marginally after Barclays downgraded the company's rating to "equal weight" from "overweight".
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economist
an hour ago
- Economist
A new opposition could be a healthy sign for Syria
During much of the first half of this year, things were looking up for Ahmed al-Sharaa. Syria's new president was basking in Donald Trump's decision to lift sanctions on his country. After more than a decade of civil war, Damascus and other cities had begun to hum again. Investors from the Gulf and Turkey piled in. Our polling showed that the public mood was buoyant. After ousting Bashar al-Assad's regime, Mr Sharaa, a former jihadist, had not imposed the Taliban-style rule that some had feared. The vast majority of Syrians said they were optimistic for the future.
Times
an hour ago
- Times
Deploy jets in Romania to guard Ukraine, Europe urges Trump
European countries want President Trump to deploy American fighter jets to Romania as part of the US security guarantees to end the war in Ukraine, The Times understands. Senior European military chiefs are discussing the deployment of American F-35s to Romania, where Nato is building its largest airbase in Europe, to deter Russia from reinvading. After that meeting, which was attended by President Zelensky and European leaders, military chiefs gathered in Washington to discuss the logistics of American support. General Dan Caine, the US chairman of the joint chiefs of staff, hosted the top generals from the UK, Germany, France, Finland and Italy to discuss American security guarantees.
Reuters
an hour ago
- Reuters
Investment fund sues Marex over alleged use of confidential information for trading position
LONDON, Aug 20 (Reuters) - An investment fund has filed a lawsuit in London against commodities broker and financial group Marex , alleging it used confidential information from the fund to support its own trading position, according to a court filing. London-based Marex Group plc declined to comment on the legal action. A court filing on August 7 by lawyers for Ocean Freight Trident Offshore Master Fund Limited against Marex said exact damages would be specified in the future, but would be at least 10 million pounds. The court document said the fund, registered in the Cayman Islands, opened an account with Marex in April 2024 and deposited $30 million, adding $12 million to the account between June and November. Marex liquidated the fund's entire positions in November 2024, the lawsuit said, without giving details of the positions. "In doing so as it did, the defendant purported to exercise its powers for the improper and collateral purpose of supporting its own proprietary trading position, adopted with the benefit of information that was confidential," the court filing said. John Hahn is chief investment officer and president of the manager of the fund, Ocean Freight Capital Management LLC, which is based in the U.S., it added. LinkedIn shows Hahn is based in Los Angeles and runs Ocean Freight Exchange, an AI platform for the shipping industry. Hahn previously worked for commodity traders Noble Group and Louis Dreyfus Company, LinkedIn showed. Hahn did not immediately respond to a request for comment.
