theguardian_business

FTSE 100 rises to new record as Rolls-Royce and BAE Systems profit from defence spending surge – business live

📰 source: theguardian_business · 💼 business

the ftse 100 hit a new record of 10,978.87 on thursday, up 0.4%, driven by defence stocks. rolls-royce shares rose 3.7% after reporting underlying profits up 48% to £2.5bn for the first half and raising full-year guidance. bae systems gained 1.1% after lifting its profit outlook to 10-12% growth, with sales up 9% to £15.8bn and orders rising to £16.4bn. both companies cited sustained increases in global defence budgets.

other earnings included lloyds banking group beating profit forecasts with £4.3bn in pretax profit, shell doubling profits to $9.84bn on higher oil prices, and bat raising its earnings outlook. the bank of england is due to announce its interest rate decision later. the record came despite mixed sentiment across europe and concerns about the fed's inflation stance.

why it matters: uk defence stocks rally on global budget hikes, lifting ftse to record as earnings season highlights divergent sector performance.

source: theguardian_business
sentiment: +0.70 · impact: 0.60

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Surprise fall in US jobs last month as slow summer continues

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