European markets closed higher on Tuesday (2/18), hitting another record high, as defense stocks continued to rally on expectations of higher national spending.
The pan-European Stoxx 600 closed 0.32% higher at 557.17 points, the latest in a string of records this month.
The Stoxx 600 Aerospace and Defense index, which also hit a record high during Monday's session, rose another 1%, with Polish defense equipment maker Lubawa jumping 14% and German defense producer Renk Group gaining 2.7%.
Geopolitical tensions were in focus on Tuesday as U.S. officials held talks with Russia to end the war in Ukraine. Officials in Kyiv and Europe were not involved in the discussions.
European leaders held an emergency meeting in Paris on Monday to discuss how to respond to a decision that appeared to sideline Europe, and while they agreed to increase defense spending, there was no agreement on whether to send peacekeepers to Ukraine after any peace deal. (Newsmaker23)
Source: CNBC
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