If … and this is a big IF. Russia agrees to the cease fire. Will there be a possible downturn for the EU defense stocks and mild upturn for the ETF’s and bank stocks ? I mean the problem haven’t gone away and EU still should arm heavily after the recent US flip-floping and Russia still being in war economy. However we all know how stock markets strangely reacts to the news.
even if Russia were to agree to ceasefire, I believe that the EU will still continue with defence spending, mainly to diverse away from US dependence and trade with i.e Canada.
just my 2c