Senior analysts say that the markets that the war spent in Ukraine, but it may love peace with Russia more.

Politically, Trump wants to claim credit to end the conflict on the eastern border of Europe. Unfortunately, Russia broke 190 different “deals“Ukraine since 1994, and 25 of these have been since 2014. So there is every opportunity to inform the “deal”, followed by the resumption of hostilities by Moscow.

For investors in Europe, this may not be bad, according to Macquarie Thierry Wizman and Gareth Bery. They expect euro to gather against the dollar, as Europe is unlikely that the defense spending is simply flying because Putin signs another piece of paper.

They notice that European stocks have done a good performance this year, as it strengthened a huge military spending package from NATO countries that earn all European allies to devote 5 % of the GDP of defense.

“The possibility of European growth has been strengthened and inflation in the war has been strengthened, because the conflict stimulates the new obligations to increase defense expenses and infrastructure expenses associated with it in Europe. Especially since the NATO summit in June 2025 witnessed an explanation of the plan to spend each country on the spending of 5 % of GDP on defense in 2035,“ they wrote. “The slope is more slope than it was in the United States.”

The volume of Europe’s return to military spending is unable, according to the analysis of its satellite images the Financial times. More than seven million square meters of new military production facilities in Europe have been added since 2022, in 150 sites through 37 companies.

After the Cold War ended in 1989, Europe reduced its defensive spending to enjoy the “peace profit distribution”. Does this not happen again, if Putin freezes in eastern Ukraine? It is unlikely, Macquarie says, because no one in Europe believes that Putin is likely to remove his weapon or avoid future military connections.

“Reviewing what analysts wrote on this topic strongly tends to the opinion that the European Union and NATO will not back down from the obligations towards higher defense spending if a form of” peace “to Russia and Ukraine comes. Even with the peace agreement or stopping the long -term fire, long solidarity at a later time.