European Defense Stocks Slip on Ukraine Talks

European defense shares fell sharply on Friday, with CSG and Rheinmetall down about 6% and Leonardo down ~5%.
Hensoldt and BAE Systems each slipped roughly 2.7%, adding to the sector’s overall weakness.
Construction and materials stocks rallied, with Buzzi, Holcim and Heidelberg Materials gaining between 4.3% and 4.8% on rebuilding optimism.
Ukraine negotiator Kyrylo Budanov said talks are moving toward a settlement, suggesting a shorter timeline and Russia’s growing alignment to end war.