Swedish defense company Saab emerged as one of the top performers on Friday, rising 6.1% after the firm raised its 2025 sales forecast, citing surging demand in Europe’s defense sector amid heightened geopolitical tensions.

Meanwhile, British lender NatWest reported pre-tax profits of $2.9 billion in the third quarter, beating analysts’ expectations, reflecting steady loan growth and cost control measures.

Geopolitical Developments: EU and U.S. Sanctions on Russia

On the political front, the European Union (EU) and the United States jointly announced a new package of sanctions against Russia, signaling renewed cooperation between the two powers after months of strained relations.

Market analysts said the move could potentially stabilize transatlantic ties, which have faced pressure over differing views on trade and defense policy.

Trade Tensions: U.S.–Canada Dispute Resurfaces

In North America, investors also monitored trade developments involving Canada.

A controversial Ontario government advertisement featuring former U.S. President Ronald Reagan speaking out against tariffs sparked backlash from President Donald Trump, who accused the ad of misleading the public about his trade policy.