BAE Systems was a bright spot on a dark day for European stocks after the U.K. defense company lifted its earnings forecast as the war in Ukraine helped...
BAE Systems UK:BA was a bright spot on a dark day for European stocks after the U.K.’s biggest defense company lifted its earnings forecast as the war in Ukraine helped deliver record orders.
Shares in London-listed BAE, which produces nuclear submarines, ammunition and the Eurofighter Typhoon jet, rose nearly 5% to sit just shy of the record high touched in May, after revealing it had secured £21.1 billion of new orders in the first half of the year. BAE Systems shares have risen about 63% since Russia’s full invasion of Ukraine in February 2022 sparked a recalibration of defense spending by many western governments.
Shares of Siemens Healthineers SHL were among the worst performers in the index, dropping 6% after the company posted disappointing results in its Varian radiation oncology business.
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