European markets climbed higher Friday, regaining momentum after a dip in yesterday's session.
European countries are likely to increase their defense spending because there is an 'aggressive neighbour to our east,' but more needs to be done, Micael Johansson, the CEO of Swedish defense company Saab, told CNBC on Friday. 'We need to step up and create more resilience and deterrence,' he said on CNBC's 'Squawk Box Europe.
Saab is investing heavily and steps are being taken to boost capabilities, but more long-term commitments from European governments are needed, he added. Saab on Friday released its first-quarter results for 2024. It's first-quarter operating income jumped 28% to 1.19 billion crowns , while sales rose by 24%, the company said . The forecast organic sales growth for was adjusted higher to 15%-20% from the previous 12%-16%.
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