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Rheinmetall overtakes Volkswagen's market value as defence rally continues

FRANKFURT (Reuters) -Rheinmetall, Europe's biggest ammunition maker, has overtaken the continent's top carmaker Volkswagen in terms of market value, in the latest sign of soaring investor demand for defence stocks. Defence stocks across Europe have sky-rocketed in recent weeks, driven by the continent's efforts to ramp up military spending in response to U.S. pressure and policy shifts.