FTSE up on rumours of aerospace boom

The index inched up 0.02% to 4,007.94 as of 9:10am, and more sectors were in the black than the red, with capital goods and basic materials leading the way, up 0.81% and 0.78%, respectively. Companies doing well included defence mammoth BAE Systems and Reed Elsevier, the owner of the LexisNexis database. The former company was up nearly one per cent, or three points, to 390.00 as of 9am off the back of news the company's full year profits for 2008 were up more than 90% due to increased demand for armament from the Iraq and Afghanistan wars. Reed Elsevier, meanwhile, also reported stro...