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Defence stocks: military spending set for secular upswing
Lex专栏:军事开支将呈长期上升趋势

Germany has announced a €100bn fund to modernise its military; expect other countries to follow suit
自俄罗斯入侵乌克兰以来,欧洲国防类股大幅上涨,美国企业也将从中受益。

Weapons makers, long unloved despite solid earnings and cash flows, are in vogue again. Russia’s invasion of Ukraine represents the return of bloody, conventional warfare to Europe. War is once again symmetrical. Some lobbyists are even pushing for western weapons makers to receive ethical investment status.

长期以来,尽管收入和现金流稳定,但一直不受欢迎的武器制造商如今再度流行起来。俄罗斯入侵乌克兰代表着血腥的常规战争回归欧洲。战争再次对称。一些游说者甚至在推动西方武器制造商获得道德投资地位。

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