Market Movements: Defense Stocks Rise, Banking Sector Declines

On this episode of Stock Movers:
- Shares in Renk are up by as much as 1.9% after being upgraded to neutral from sell at Citi, with the broker expecting the company to benefit from Germany’s increased defence spending.
- Shares in PKO fell by as much as 7.1%. Polish banks are among the worst performers in Europe after the country’s Finance Ministry announced plans to raise corporate taxes on lenders to help ease pressure on a strained budget.
- Akzo Nobel rose by as much as 4.9% after Cevian Capital acquired a 3.02% stake in the Dutch paintmaker, according to a filing with the Dutch financial markets authority AFM.

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