Saab fell about 7.2%, leading the decline in European defense stocks, while Alcoa rose over 2%. Carney stated that Canada's defense will prioritize purchasing domestic products and utilizing its own steel and aluminum

European stocks: Saab fell 7.17%, Kongsberg Gruppen ASA fell 4.4%, Thales, Leonardo, and Thyssenkrupp fell by up to 1.45%, while Airbus rose slightly by less than 0.1%.

United States Steel Corporation (X) once fell more than 0.5%, while Alcoa (AA) rose about 2.3%, hitting a daily high.

Canadian Prime Minister Carney stated that Canada will establish a new artificial intelligence (AI) research institution named Borealis.

Canada will achieve the NATO target of military spending accounting for 2% of GDP this year.

Canada will strengthen its military presence in the Northern Hemisphere.

Canada will support the new NATO defense industry commitments.

The Canadian Department of National Defence will sign a new defense policy, which will create a new defense procurement agency.

Canada will prioritize the procurement of domestically manufactured defense products, and defense manufacturing will use steel and aluminum produced in Canada.

Canada will purchase new chips, submarines, weapons, and drones