Newssos
Defense equities sold off sharply after reports emerged that Berlin is planning to cancel its multi-billion-euro program to build the F126 frigates.
Rheinmetall, Germany's largest listed defense contractor, bore the heaviest single-stock blow, with shares falling 18%.
The Cancellation Reports According to reports, the German government is moving toward scrapping the F126 frigate project, a multi-billion-euro naval construction program.
The source of the cancellation plans was not identified in available reporting, and Berlin had not issued a formal public confirmation as of the time of these reports.
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