Doha: European shares extended gains to trade near a record high on Monday, as defense stocks received a boost on prospects of higher military spending by the region. The pan-European STOXX 600 index was up 0.4% at 08:11 GMT, set to build on ten straight weeks of gains.

According to Qatar News Agency, the European aerospace and defense index surged 6.5% to a record high, with notable performances from Rheinmetall, which surged 17.4% to a record high. BAE Systems also saw a significant jump of 11.6%, while Leonardo advanced 15.1%. Additionally, the German blue-chip index climbed 0.9%, hovering near a record peak.