FRANKFURT (Reuters) – Rheinmetall, Europe’s biggest ammunition maker, has overtaken the continent’s top carmaker Volkswagen in terms of market valuation, in the latest sign of rising investor appetite for defence stocks. Rheinmetall’s market capitalisation stood at around 56.2 billion euros ($61.1 billion) as of 0848 GMT, compared with 54.7 billion euros for Volkswagen. ($1 = […]
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Rheinmetall worth more than Volkswagen as defence rally continues
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FRANKFURT (Reuters) – Rheinmetall, Europe’s biggest ammunition maker, has overtaken the continent’s top carmaker Volkswagen in terms of market valuation, in the latest sign of rising investor appetite for defence stocks.
Rheinmetall’s market capitalisation stood at around 56.2 billion euros ($61.1 billion) as of 0848 GMT, compared with 54.7 billion euros for Volkswagen.
($1 = 0.9195 euros)
(Reporting by Christoph Steitz, Editing by Friederike Heine)