Boosting defence spending is a task for all NATO members willing to close gaps with allies, ministers from historic low-spenders Italy and Germany said on Friday, following a round of talks with European counterparts.

It is up to all NATO members to close gaps in their defences no matter the cost, German Defence Minister Boris Pistorius said on Friday, following talks with his European counterparts in Rome. "It is the task of all NATO states in Europe and beyond to close the capability gaps

European defense stocks were rallying on Thursday, as Germany’s foreign minister said the country accepted the 5% of GDP defense-spending target for NATO countries.