Leonardo is trading 4.17% down at €48.99, as investors focus on cautious full-year guidance despite strong nine-month results. - Leonardo raised its 2026 order outlook to about €29.5 billion but left revenue and EBITA guidance unchanged. - Reporting noted concern that this implies slower fourth-quarter growth. - A broader defense-sector selloff linked to worries about US military spending after the midterm results may also be weighing on shares.