Leonardo SpA

• Hedge funds had their best year since 2009. These 2 strategies drove the biggest returns - Hedge funds notch their best year since the Global Financial Crisis as equity and macro strategies surge.
• Global defense stocks surge after Trump calls for $1.5 trillion military budget in 2027 - U.S. defense stocks rallied in pre-market moves, following their European counterparts.
• Defense giants say investors should still bet on them, as hopes for a Russia-Ukraine peace deal spark a selloff - European defense stocks fell on Tuesday after U.S. President Donald Trump said negotiators were closer than ever to securing a peace deal for Ukraine.