Serbia's central bank holds key rate at 5.75% amid global uncertainty
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Turkey’s leading defence stock, Aselsan (IST: ASELS), outperformed many of the world's leading defence companies in the first half of the year, state-run news service Anadolu Agency reported on July 10.
Global defence and aerospace firms posted mixed stock market performances in 1Q26, a period marked by pricing driven by geopolitical risks. Ongoing geopolitical tensions across different regions, particularly in the Middle East, affected their share outcomes.
Aselsan, the company with the highest market capitalisation on Borsa Istanbul, delivered a 49% return to investors in the first half, ending the period with a market capitalisation of Turkish lira (TRY) 1.63 trillion ($35bn).
In the same period, shares of the UK's Rolls-Royce (London/ RR) gained 26% while Germany's Lufthansa (Frankfurt/LHA) saw a rise of 19% and shares in France's Safran (Paris/SAF) advanced 16%.
The UK's BAE Systems (London/BA) gained 8%. South Korea's Hanwha Aerospace (Seoul/012450) climbed 5.7% while US-based Lockheed Martin (New York/LMT) and General Dynamics (New York/GD) rose 5.3% and 5.2%, respectively. France's Dassault Aviation (Paris/AM) gained 4.9%, and the US-based RTX Corporation (New York/RTX) scored a share price gain of 3.5%.
While geopolitical developments supported some defence stocks, several global players posted first-half losses. US-based Boeing (New York/BA) declined 0.3%, L3Harris Technologies (New York/LHX) fell 1% and European aerospace group Airbus (Paris/AIR) lost 1.9%. France's Thales (Paris/HO) dropped 2.2% while Japan's Mitsubishi Heavy Industries (Tokyo/7011) fell 4.5%.
Shares in Italy's Leonardo (Milan/LDO) declined 4.6%. Sweden's Saab (Stockholm/SAAB-B) fell 6.5% and the US-based Northrop Grumman (New York/NOC) lost 13%. Germany's Rheinmetall (Frankfurt/RHM) recorded a 36.5% decline.
Hopes that the Russia-Ukraine war could move towards a resolution weighed on defence and aerospace stocks across Europe during the period.
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