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Pin to quick picksBAE Systems Share News (BA.)

Share Price Information for BAE Systems (BA.)

London Stock Exchange
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Share Price: 1,361.50
Bid: 1,361.50
Ask: 1,362.00
Change: -2.50 (-0.18%)
Spread: 0.50 (0.037%)
Open: 1,363.50
High: 1,365.00
Low: 1,350.50
Prev. Close: 1,364.00
BA. Live PriceLast checked at -

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Slide in defence stocks knocks down Europe's STOXX 600

Tue, 09th Apr 2024 17:26

BP gains on higher quarterly upstream energy output forecast

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Fincantieri shines after Norwegian Cruise Line deal

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Italy cuts growth forecasts and says debt set to rise

April 9 (Reuters) - A sell-off in defence stocks dragged Europe's benchmark stock index lower on Tuesday, while investors braced for this week's crucial U.S. inflation data and the European Central Bank's monetary policy decision.

The pan-European STOXX 600 index closed 0.6% lower, a day after notching its strongest session in nearly three weeks. Benchmark indexes in Germany, France and Italy lost between 0.9% and 1.3%.

Defence-related stocks like Sweden's SAAB, Italy's Leonardo, Germany's Rheinmetall and France's Thales were among the top laggards on the STOXX 600, down between 4.9% and 9.8%.

A gauge of European aerospace and defence stocks slumped 3.7%, logging its steepest one-day slide in over a year.

Traders turned nervous

about the sector's record-breaking run fuelled by rising military spending after Russia's invasion of Ukraine in February 2022, with analysts noting potentially stretched valuations.

Caution prevailed ahead of the U.S. inflation report on Wednesday and the ECB's policy decision on Thursday which could shed light on when major central banks might start cutting interest rates this year.

"Confidence in getting closer to rate cuts is rising in our view, but still data dependent and insufficient for action," wrote analysts at Bank of America.

"The 'meeting-by-meeting' approach means we shouldn't expect guidance on the pace and depth of the cutting cycle."

Euro zone bank shares dropped 1% after an ECB survey showed lenders lowered the bar on first-quarter mortgage approvals for the first time in over two years, but demand for credit kept falling as borrowing costs remained high in a stagnant economy.

Daimler Truck Group lost 4% after the company reported a 13% drop in first-quarter sales.

Biomerieux jumped 8.6% after the French diagnostics specialist published first-quarter organic growth above consensus estimates, and presented a new five-year strategic plan.

KGHM advanced 8.7% following BoFA Securities' double upgrade on the miner.

BP rose 1.3% after the UK oil giant forecast a rise in first-quarter upstream production of oil and gas as well as low-carbon energy from the previous three months.

Italian shipbuilder Fincantieri climbed 3.9% after finalising a deal with Norwegian Cruise Line to supply four new cruise ships.

The basic resources sector bucked the broader trend to gain 1.4%, rising for the second consecutive day to its highest level since the start of the year.

Meanwhile, the Italian government cut its growth forecast for this year and next and said public debt was set to rise. (Reporting by Johann M Cherian, Ozan Ergenay and Ankika Biswas; Editing by Sherry Jacob-Phillips, Shounak Dasgupta and Richard Chang)

More News
14 May 2024 07:55

UK confirms it will build six new warships for Royal Marines

LONDON, May 14 (Reuters) - British defence minister Grant Shapps said he would order up to six new warships for the Royal Marines, as the government starts to indicate where a recently announced rise in defence spending will be directed.

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13 May 2024 15:36

London close: Stocks take a breather after last week's surge

(Sharecast News) - London's stock markets ended the day in negative territory on Monday, with investors taking a breather following a six-day winning streak that propelled the FTSE 100 to a new all-time high.

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13 May 2024 12:59

BofA Merrill Lynch downgrades BAE Systems

(Sharecast News) - BAE Systems was under the cosh on Monday after Bank of America Merrill Lynch downgraded shares of the defence company to 'neutral' from 'buy'.

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13 May 2024 12:01

LONDON MARKET MIDDAY: Stocks flat as IPO chat brightens up subdued day

(Alliance News) - Stocks in London marked time on Monday, consolidating recent gains, ahead of a key week of US economic data.

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13 May 2024 09:41

LONDON BROKER RATINGS: BAE Systems and Mondi cut to 'neutral'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and on Friday:

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13 May 2024 09:01

LONDON MARKET OPEN: Stocks make steady start as investors eye US CPI

(Alliance News) - Stock prices in London opened modestly higher on Monday, pausing for breath after the recent record breaking run as investors look ahead to key inflation figures in the US.

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9 May 2024 15:21

London close: Stocks manage gains as BoE holds rates

(Sharecast News) - London markets closed on a positive note on Thursday, bolstered by the Bank of England's decision to maintain interest rates, in line with market expectations.

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9 May 2024 12:11

LONDON MARKET MIDDAY: Stocks climb as BoE holds but two back cut

(Alliance News) - The FTSE 100 was higher on Thursday afternoon, after the Bank of England maintained the benchmark UK interest rate at 5.25%, albeit with a vote split that encouraged rate cut expectations.

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9 May 2024 09:30

TOP NEWS: Upbeat BAE Systems backs outlook for double-digit sales rise

(Alliance News) - BAE Systems PLC on Thursday said trading is in line with expectations backed by increased defence spending.

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9 May 2024 08:00

LONDON BRIEFING: Stocks called up ahead of BoE interest rate decision

(Alliance News) - Stocks in London are set to open up on Thursday, ahead of the latest interest rate decision from the Bank of England.

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9 May 2024 07:02

BAE holds guidance, sees boost from global tensions

(Sharecast News) - Weapons maker BAE Systems held annual guidance and said global geopolitical tensions should boost orders as countries increased defence spending.

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8 May 2024 19:10

Sector movers: Aerospace and Defence, Pharma pace gains

(Sharecast News) - London's main stock market gauges continued to push higher in the middle of the week, even as investors waited on the Bank of England's policy announcement on the following day.

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3 May 2024 14:39

Cameron says UK will appoint envoy to ramp up defence production

(Alliance News) - David Cameron has pledged to appoint a new envoy to ramp up the UK's production of weapons and ammunition.

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2 May 2024 13:48

UK shareholder meetings calendar - next 7 days

Friday 3 May 
Ashoka India Equity Investment Trust PLCGM re share issue
HSBC Holdings PLCAGM
Intercontinental Hotels Group PLCAGM
Mondi PLCAGM
More Acquisitions PLCAGM
Monday 6 May 
no events scheduled 
Tuesday 7 May 
Caledonia Mining Corp PLCAGM
CPPGroup PLCAGM
Just Group PLCAGM
Macfarlane Group PLC AGM
Plus500 LtdAGM
Supernova Digital Assets PLCAGM
Wednesday 8 May 
Airea PLCAGM
Antofagasta PLCAGM
Aston Martin Lagonda Global Holdings PLCAGM
Deltex Medical Group PLCAGM
Direct Line Insurance Group PLCAGM
Fidelity European Trust PLCAGM
Haleon PLCAGM
Jardine Matheson PLCAGM
JZ Capital Partners LtdEGM re investing in a secondary fund
Oscillate PLCAGM
Pershing Square Holdings LtdAGM
Rentokil Initial PLCAGM
WPP PLCAGM
Thursday 9 May 
Ascential PLCAGM
BAE Systems PLCAGM
Balfour Beatty PLCAGM
Barclays PLCAGM
CAB Payments Holdings PLCAGM
Catenai PLCGM re convertible loan note
Clarkson PLCAGM
FBD Holdings PLCAGM
Genel Energy plcAGM
Gym Group PLCAGM
Harbour Energy PLCAGM
Hiscox LtdAGM
IMI PLCAGM
Inchcape PLCAGM
Indivior PLCAGM
John Wood Group PLCAGM
Jupiter Fund Management PLCAGM
Logistics Development Group PLCAGM
Man Group PLCAGM
Morgan Advanced Materials PLCAGM
OSB Group PLCAGM
Public Policy Holding Co IncAGM
Rathbones Group PLCAGM
RM PLCAGM
Spire Healthcare Group PLCAGM
Synthomer PLCAGM
Uniphar PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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26 Apr 2024 07:54

Defence firm Saab raises sales outlook after Q1 profit jump

SAAB Q1 operating profit up 28% on the back of strong demand

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