UK traders are still moving into buffer zone or defense and security stocks at present as expectatio...
UK traders are still moving into buffer zone or defense and security stocks at present as expectations are the US government is about to significantly increase spending spending on defense, however, the markets are still about activity still to come on Monday when the New York stock market reopens.
The FTSE 100 gained 21.2 points or 0.4% to 4964.8 points at the open this morning, pulling yesterday's 1.3% climb even further.
BAE, the world's no.2 defense company, rose 13.75p or 3.9% to 362.5% after Morgan Stanley Dean Witter analyst Tim Witter raised his recommendation on the stock from "neutral" to "outperform". Smiths Group also climbed 41.5% or 6% to 735p as its US unit makes equipment to detect bombs and explosives.
British Airways, however, dropped another 10p or 5.1% to 186p following an announcement that the company expects its profits to be crimped on the back of lower consumer travel.
An ambitious objective
'Something completely new'
Reasons to be cheerful
Total investment reaches £9m