Ankara: European stock markets gained on Monday, led by defense companies' surge amid geopolitical tensions, with the Stoxx 600 reaching a new record high.

According to Anadolu Agency, defense stocks climbed following discussions at the Munich Security Conference, with investors closely monitoring developments around the Ukraine-Russia war, including remarks on ending the conflict.

Germany's Renk Group and Rheinmetall saw significant growth, with shares rising by 16.57% and 14%, respectively. Meanwhile, Swedish defense manufacturer Saab gained 16.17%, and the UK's BAE Systems soared by 7.9%.

The pan-European Stoxx 600 closed with a 0.54% gain, marking another all-time closing high of 555.42 points. This upward trend was echoed across various national indices.

Germany's DAX 40 index experienced a rise of 1.26%, gaining 284.67 points to reach 22,798.09. The UK's FTSE 100 also grew by 0.41%, adding 35.55 points to end at 8,768.01.

In France, the CAC 40 index increased by 0.13%, gaining 10.59 points to close at 8,189.13. Italy's FTSE MIB 30 index soared by 0.92%, rising 350.13 points to finish at 38,327.72.