European defence stocks rise by €18bn to record high ahead of Ukraine peace talks – as it happened

Shares in BAE Systems, Rheinmetall and Saab soar, as Keir Starmer offers to put British boots on the ground' in Ukraine

• Europe and US must not be divided over plan for peace in Ukraine, Scholz says after emergency summit - Europe live
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Here's Bloomberg on the jump in Rheinmetall's share price this morning:

Rheinmetall AG's shares surged the most in more than two years as European officials contemplate a major new package to increase defense spending and support for Ukraine.

The German manufacturer's stock rose as much as 11% in Frankfurt. The shares have more than doubled over the past year as military orders increased, especially from Germany. If Europe moves to increase spending further, it could push Rheinmetall to accelerate plans to increase its production capacity.