Defence-related shares rise on Tuesday following Andy Burnham’s appointment of John Healey as chancellor, with investors expecting potential increases in military spending. Market moves appear concentrated in companies that supply defence equipment and services. Reports note Babcock International climbs sharply, while BAE Systems and Rolls-Royce also gain on the FTSE 100. On the FTSE 250, QinetiQ is described as rising as well. The reaction is linked to Healey’s background as a former defence secretary and the market view that this may translate into greater support for the sector under Burnham’s government. One outlet describes the impact as a multi-billion-pound boost to the sector, framing the share gains as evidence of investor confidence in future defence procurement. Overall, sources agree the gains reflect expectations rather than confirmed policy changes, and that the moves follow Healey’s confirmation after markets had closed the previous day.
Defence shares rise after John Healey appointed UK chancellor
Defence-related shares rise on Tuesday following Andy Burnham’s appointment of John Healey as chancellor, with investors expecting potential increases in military spending. Market moves appear concent...
- Andy Burnham appoints John Healey as chancellor, after Healey is confirmed in the role.
- Defence shares rise sharply in early trading following the appointment.
- Babcock International is among the biggest gainers, with BAE Systems and Rolls-Royce also moving up.
- QinetiQ on the FTSE 250 also rises.
- Investors expect possible increased military spending, based on Healey’s former defence secretary background, rather than on announced policy details.
Babcock and BAE Systems benefit as markets hope former defence secretary will increase spending on sectorBusiness live – latest updatesShares in defence companies have risen sharply after Andy Burnham appointed John Healey as chancellor, prompting hope among investors of increased spending on suppliers to the military.Defence stocks were among the biggest risers on the FTSE 100 on Tuesday morning after the former defence secretary was announced as chancellor after markets closed on Monday. Babcock International rose 7%, BAE Systems was up 3% and Rolls-Royce increased nearly 2% on the FTSE 100. On the FTSE 250, QinetiQ rose nearly 4%. Continue reading...
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