FTSE 250 movers: Arms makers in vogue on higher spending prospects
London stocks were still in the black by midday on Monday, with defence names surging on the prospect of increased spending.
"Defence contractors leading the charge higher," said Hargreaves Lansdown analyst Susannah Streeter.
"The shocking clash between Trump, Vance and Zelensky has brought the need for Europe to increase collective security into sharp focus. A show of co-operation among leaders at the weekend in London has reinforced expectations that military budgets will swell in a new era of collaboration to counter the Russian threat."
Chemring, Babcock and Qinetiq were all higher on the news.
Senior on Monday said it was in advanced talks with a small number of parties on the sale of its aerostructures business as it also announced a rise in annual earnings.
Wood Group surged 14%.
Market Movers
FTSE 250 - Risers
Wood Group (John) (WG.) 42.30p 14.08%
QinetiQ Group (QQ.) 452.20p 11.88%
Babcock International Group (BAB) 737.50p 9.99%
Chemring Group (CHG) 400.00p 7.10%
Indivior (INDV) 744.50p 6.43%
FirstGroup (FGP) 169.80p 6.32%
Ferrexpo (FXPO) 79.30p 6.16%
Senior (SNR) 171.00p 5.82%
Rathbones Group (RAT) 1,666.00p 3.61%
Me Group International (MEGP) 199.00p 3.54%
FTSE 250 - Fallers
Baltic Classifieds Group (BCG) 307.50p -10.61%
Spectris (SXS) 2,764.00p -3.96%
Raspberry PI Holdings (RPI) 575.00p -3.36%
Oxford Nanopore Technologies (ONT) 109.00p -3.20%
Wizz Air Holdings (WIZZ) 1,621.00p -2.93%
Savills (SVS) 1,016.00p -2.31%
B&M European Value Retail S.A. (DI) (BME) 271.80p -2.12%
Chrysalis Investments Limited NPV (CHRY) 99.00p -1.98%
Workspace Group (WKP) 423.50p -1.97%
PRS Reit (The) (PRSR) 112.80p -1.91%
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