Europe open: Miners, defence stocks rally as Stoxx marches on
By Frank Prenesti
Date: Tuesday 30 Dec 2025
(Sharecast News) - European shares were up after hitting fresh records at the close on Monday with defence and miners in focus amid soaring metals prices and slow progress on talks to end the war in Ukraine.
The pan-regional Stoxx 600 index was up 0.11% at 589.86 in early deals with most major bourses in the green. Trade was thin as traders wound down for the New Year break.
Defence stocks were back in favour as Ukraine peace talks continued despite demands from Russia that Kyiv cede territory in the Donbas region.
Meanwhile Ukraine President Volodymyr Zelenskyy accused Russia of trying to sabotage the talks and preparing to bomb government buildings after the Kremlin said it had foiled a Ukrainian drone attack on Vladimir Putin's residence.
The signs of underlying tensions saw defence stocks rally after recent losses, with Rheinmetall, Hensoldt, Saab, Renk, Babcock and Leonardo all higher.
Soaring gold, silver and copper prices boosted miners as investors sought safe havens and positions in commodities needed for renewable energies.
Fresnillo led the way with a 3% gain. Glencore, Anglo American and Antofagasta were also all higher.
Reporting by Frank Prenesti for Sharecast.com
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