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UK defence stocks slide after Starmer flags participation in EU SAFE fund
UK defence stocks declined after Starmer suggested joining the EU SAFE fund, raising concerns over future defence spending direction.
UK defence shares fell after Prime Minister Keir Starmer indicated Britain could join the EU’s new SAFE defence funding mechanism. Investors worried the move may redirect future defence spending and contracts toward broader European frameworks. Major defence stocks saw selling pressure as markets assessed potential impacts on domestic procurement priorities. Analysts said clarity on funding structure and UK participation terms will be crucial for sentiment.