FRANKFURT (dpa-AFX) - German defense stocks rose significantly on Tuesday afternoon after Russian President Vladimir Putin made critical statements about Europe's role in the US peace plan for Ukraine.
Rheinmetall shares were last up 3.3 percent, making them the top performers on the DAX. On the MDAX, Renk gained 2.5 percent and Hensoldt 2.6 percent.
According to the Russian news agency Interfax, Putin accused European countries of not having a peaceful agenda in the talks on Ukraine. The changes to the US peace plan proposed by Europe were only aimed at blocking the peace process and making demands that were unacceptable to Russia. Europe could be allowed to return to the negotiating table if it took "realities on the ground" into account. /edh/mis
Rheinmetall AG specializes in the design, manufacture and marketing of equipment, components and solutions for the military and civilian industries. Net sales break down by family of products as follows:
- vehicle systems (38.7%): multi-purpose wheeled and tracked vehicles (tactical military vehicles, support vehicles, logistics vehicles and special vehicles);
- weapon and ammunition systems (26%): automatic cannons for land, air and sea vehicles, smooth-bore weapons, artillery systems, smart projectiles, high-energy lasers, etc.;
- sensors, actuators and power systems (20.8%): actuators, exhaust gas recirculation systems, throttle valves, exhaust gas dampers for electric motors, solenoid valves, pumps, etc. used in thermal and fluid management applications in the mobility and industrial sectors;
- electronic solutions (13.5%): sensors and networking systems, cyberspace protection solutions, air defense systems, radar systems, technical documentation solutions, integrated electronic systems, drones and automated ground robots, training and simulation solutions;
- other (1%).
Net sales are distributed geographically as follows: Germany (30.4%), Europe (46.6%), Asia and Middle East (9.6%), Americas (7.6%) and other (5.8%).
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