European defense stocks strengthened due to lower expectations for a peace protocol between Russia and Ukraine.

Jin10 data reported on October 20, European defense stocks opened higher this week, as market expectations for a recent peace protocol between Ukraine and Russia are low. Trump has demanded that Zelensky accept Russia's conditions, or face destruction. JPMorgan analysts stated that the huge differences rule out the possibility of reaching any protocol in the short term, and Trump will not be able to push for a ceasefire between Russia and Ukraine like he did in Gaza. JPMorgan stated: “Based on our discussions with several authorities on the Russia-Ukraine issue this year, as well as a broad understanding of this topic, we believe this war is likely to last until 2026.” Rheinmetall rose 4.4%, BAE rose 1.5%, Thales rose 2.5%, Hensoldt rose 5.3%, Leonardo rose 3.1%.