FRANKFURT (dpa-AFX) - Shares in the defense industry rose on Wednesday in response to U.S. President-elect Donald Trump's call for much higher defense spending. In the Dax, Rheinmetall rose 3 percent to 635.20 euros, taking the lead. It was not far from a record high beyond the most recent mark of 663.80 euros from early December.
The US president-elect is calling on NATO member states to significantly increase their defense spending. Instead of the two percent of their gross domestic product (GDP) that has been targeted so far, the partner countries should invest five percent in the future, the Republican said at a press conference at his Mar-a-Lago estate in Florida, adding: "They can all afford it."
In the MDax, Hensoldt rose by 4 percent and in the SDax, Renk also gained 4 percent. The securities of the manufacturer of transmissions and engines for tanks and frigates again tested the 90-day line as an indicator for the medium-term trend, which it had failed at in December./bek/jha/