Bae Systems saw a 19% jump in its shares after Prime Minister Keir Starmer held a summit focused on supporting Ukraine. Starmer emphasized the need for a coalition to defend Ukraine and revealed a £1.6 billion finance deal for Ukraine to procure 5,000 French missiles from Thales Group. The summit's outcomes significantly contributed to a rise in the FTSE 100, reflecting investors' confidence in defense sectors amid ongoing military needs in Ukraine.
Shares in BAE Systems soared by 19% following Prime Minister Keir Starmer's summit on Ukraine, reflecting the growing defense efforts and investment in military support for the country.
During the summit, Starmer committed to forming a coalition to support Ukraine and announced a £1.6 billion deal for the acquisition of French missiles from Thales Group.
The Prime Minister's pledge to 'develop a coalition of the willing' aims to bolster Ukraine's defense capabilities and push for a comprehensive peace plan.
As a result of the summit and the focus on military support, the FTSE 100 index reached a new high, highlighting the significant impact of defense spending on the market.
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