Investors in Europe have grown bullish on defence stocks and bearish on energy, as Russia and Ukraine marked three years of war last Monday (24 February).
The shift in investment preferences was mostly visible in the sphere of passive investments, where, according to data from Morningstar Direct, European-domiciled energy ETFs have bled almost €3bn since February 2022 - when Moscow launched a full-scale invasion against the neighbouring country - with the sector recording only 11 months of positive flows out of 37. Meanwhile, flows into European ETFs focused on security almost doubled from €467.5m in January 2025 to €868.6m last month, the highest level since Morningstar started records of the sector in March 2023. UK companies to benef...
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