European defense stocks soar, UK aerospace systems hit record high.

European defense stocks surged, with British Aerospace Systems and other stocks hitting record highs, as market expectations for increased security spending rose due to the conflict in the Middle East. The Goldman Sachs Defense Stock Basket Index saw the highest increase of 5.9%, the largest since early January, bringing the cumulative increase for the year to approximately 23%. British Aerospace Systems saw the highest increase of 8.3%, reaching a record high; Dassault Aviation increased by 4.3%, Thales by 6.2%, Rheinmetall by 6%, Hensoldt by 8.9%, Leonardo by 6.5%, Saab by 8.7%, and Kongsberg by 6.6%.