Finance
Ukraine-exposed stocks rally, defence dips on Ukraine peace hopes
Published by Global Banking & Finance Review®
Posted on January 22, 2026
2 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 22, 2026
2 min readLast updated: January 22, 2026
Stocks linked to Ukraine surged as defence shares fell on peace talk prospects. Raiffeisen, Wizz Air, and Ferrexpo saw notable gains.
LONDON, Jan 22 (Reuters) - European stocks expected to benefit from an end to Russia's war in Ukraine rallied on Thursday, and defence stocks dropped after Ukrainian president Volodymyr Zelenskiy said Ukrainian and Russian teams will have their first trilateral meeting with U.S. officials.
Zelenskiy discussed security guarantees and a plan for post-war recovery during his meeting with U.S. President Donald Trump in Davos.
Austrian bank Raiffeisen gained 6%, airline Wizz Air and travel firm Tui rose 9% and 4% respectively, while Ukraine-exposed miner Ferrexpo soared 19%. An index European materials and construction stocks rose as much as 2.9%, with Buzzi, Heidelberg Materials and Rockwool among the top gainers.
All typically rally at times when markets see an increased prospect of a deal to end the war.
In contrast, an index of European defence stocks dropped 2.3%, set for its biggest daily fall since early December.
Saab dropped 4.3% and Rheinmetall 3.7%. Defence stocks had been under pressure already after Trump backed off tariff threats towards Europe and ruled out taking Greenland by force.
(Reporting by Alun John; editing by Danilo Masoni)
A stock represents ownership in a company. When you buy a stock, you purchase a share of that company's assets and earnings.
Defense stocks are shares in companies that manufacture weapons, military equipment, or provide services to the military.
A market index is a measurement of the performance of a group of stocks, representing a particular market or sector.
European economies refer to the economic systems of countries in Europe, characterized by various levels of development and integration.
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