Rheinmetall Shares Plunge After Germany Scraps Warship Order

Rheinmetall Plunges After Germany Scraps Warship Order

Rheinmetall Plunges After Germany Scraps Warship Order Rheinmetall shares plunged as much as 17%, the largest intraday drop in more than a year, after the Financial Times reported that Berlin has scrapped a multi-billion-euro program to build six F126 frigates. The German Ministry of Defense told FT on Wednesday that the decision was due "to significant delays in the project, foreseeable cost increases and the risks that would have been associated with a change of main contra...

By Tyler Durden