European defense stocks fell sharply, with CSG Nv down ~9.7% and Rheinmetall down ~5.7% after Ukrainian negotiator’s comments.
Construction and materials shares rose 4‑5% as investors bet peace talks could boost rebuilding and infrastructure demand.
Kyrylo Budanov said negotiations are moving toward a settlement and timeline may be shorter than expected, raising optimism.
Analysts cautioned that no new breakthroughs were disclosed and President Zelenskiy remained skeptical, tempering market expectations.