BAE Systems shares fired up as Putin’s Ukraine war escalation sparks predictions of more military spending

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Defense giant BAE Systems was one of the biggest risers as Vladimir Putin’s latest escalation of military tensions in Ukraine predicted higher military spending.

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The FTSE 100 firm jumped 4.3 percent, or 33.2p, to 805p after Russia announced plans to mobilize troop reservists to support the invasion after a swift advance by Ukraine’s military, which gave the Kremlin a back foot. left on.

Around 300,000 troops are expected to be called up initially, which is thought to be a fraction of the 2m total. Putin also plans a referendum to annex Ukrainian territories, which, along with a threat to use nuclear weapons, upset global investors.

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Russia fears: BAE Systems jumped after Russia announced plans to mobilize military reservists to support the offensive after a rapid advance of Ukrainian forces

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Hargreaves Lansdowne analyst Susannah Streeter said: “As expectations are rising that demand for military hardware to counter Russia’s aggression will increase, NATO member states have already promised a significant increase in spending on defense.”

Still, the London blue-chip index managed to gain gains and rose 0.63 per cent, or 44.98 points, to 7237.64, while the FTSE 250 gained 1.01 per cent, or 186.53 points, to 18,714.67.

Futsi was backed by the oil giants, who rose when they talked about the price of Brent crude, fearing that the energy crisis would escalate.

Shell added 1.4 percent, or 32.5p, to 2335p, while BP climbed 0.7 percent, or 3.05p, to 455.5p and North Sea-focused Harbor Energy rose 2.4 percent, or 11.1p, to 482p.

But Moscow’s rhetoric took a toll on travel stocks. British Airways owner IAG fell 3.3 percent, or 3.54p, to 104.8p, ​​Easyjet fell 3.3 percent, or 11.7p, to 340.9p, Wizz Air 4.1 percent, or 83.5p, up to 1962.5p, Tui 3.4 percent. Cents, or 4.65p, fell to 134.2p and the Jet2 fell 3.2 percent, or 27.6p, to 843.4p.

Meanwhile, blue-chip firms that earn a large portion of their money in foreign exchange were boosted by a weaker pound, which fell to its lowest level against the US dollar since 1985.

Stock Watch – Vandisco

Software firm WANDisco reached its highest level in a year after completing its biggest ever contract.

The group, which provides services to help firms move and analyze data, has signed a £22m deal with a top ten global communications firm – the fourth among the two – and takes the cumulative total value to around £35m. Is.

As a result, it expects bookings for 2022 to be at record levels and ‘far ahead’ of expectations. It jumped 20.8pc, or 83.75p, to 487p.

Minors gained, Glencore up 1.1 percent, or 5.1p, up 486p, Fresnillo up 0.9 percent, or 6.6p, to 747.4p, Anglo American up 1.3 percent, or 36.5p, up 2814.5p and Rio Tinto 0.5. Percentage, or 24p, up to 4720p.

Housebuilders were also reported since the chancellor would cut stamp duty in Friday’s ‘mini budget’ to boost development. Shares of Persimmon rose 4.7 percent, or 63p, to 1400p, while Barrett climbed 3.5pc, or 14.1p, to 418.9p, Taylor Wimpey rose 3.8 percent, or 3.9p to 106.95p, and Berkeley’s by 1.4 percent, or 48p to 3555p.

There was another good news for pharma giant AstraZeneca after EU regulators backed one of the asthma drugs. It rose 0.1 percent, or 14p, to 10,090p.

Computer game maker Frontier Developments rose 7.7 percent, or 92p, to 1284p as it reported revenue of £114million for the year as of 31 May, a 26 percent increase in 2021, stronger than its new releases including dinosaur theme park simulator Jurassic Thanks for the performance. World Evolution 2. One-time fee reduced profits from £19.9million to £1.5million.

Meanwhile, Keyword Studios, which provides support services to the gaming industry, closed Vancouver studio Smoking Gun Interactive in a £26m deal, as it reported a pre-tax profit of £34m for the first half , which is up 78 percent year-on-year amid high demand. It fell 1.6 percent, or 38p, to 2312p.

Games Workshop, the maker of Warhammer battle statistics, fell 9.4 percent, or 660p, to 6400p after reporting, in the three months to 28 August, a pre-tax profit of £39million, down from £45million a year earlier. Sales increased from £98 million to £106 million.

And property investor LXI rose 1.9 percent, or 2.6p, to 141p. It is in talks to buy 18 stores from Sainsbury’s (0.3 percent or 0.6p, up 194.8p) in a deal worth up to £500m.

Credit: www.dailymail.co.uk /

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