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Defence stocks move higher on security fears in wake of Paris attacks

Discussion in 'Market News' started by Lily, Nov 18, 2015.

  1. Lily

    Lily Forum Member

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    Smiths Group, which makes detection systems used in airports, is biggest riser on the FTSE with a surge of 10%, despite reporting fall in profits

    Defence company shares moved sharply higher as France promised to increase spending on security and launched a new wave of strikes on Isis in the wake of last week’s attacks in Paris.

    Smiths Group, which makes detection systems used in airports, surged 10% to £10.20, making it the biggest riser in a buoyant FTSE 100, despite the company reporting a 4% fall in first quarter profits. Rolls-Royce – where 15% of revenues come from defence – rose 5% to 555p and arms manufacturer BAE Systems climbed 2% to 473p.

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