LONDON: A month of the war in Ukraine briefly erased a year’s worth of gains for European equities but the continent’s bourses have quickly recovered as investors have poured money into sectors such as energy and defence which are poised to benefit from one of the deepest policy shifts in the region in decades.
The largest war in Europe since World War II has suddenly awakened governments to the urgent need of making their economies less reliant on oil and gas imports from Russia and building their own military security capabilities.