Advertisement
UK markets closed
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • FTSE 250

    19,884.73
    +74.07 (+0.37%)
     
  • AIM

    743.26
    +1.15 (+0.15%)
     
  • GBP/EUR

    1.1688
    -0.0005 (-0.05%)
     
  • GBP/USD

    1.2614
    -0.0008 (-0.07%)
     
  • Bitcoin GBP

    55,669.91
    -415.75 (-0.74%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • CAC 40

    8,205.81
    +1.00 (+0.01%)
     

BUZZ-BAE: rallies as Berenberg flags order book potential

** Defence equipment maker BAE Systems (LSE: BA.L - news) up 2 pct, best day for stock in over a month & top FTSE 100 riser as Berenberg anticipates material order book uplift

** Berenberg, which sees 10-20 pct hike to order book in next six months, raises PT to 580p from 531p

** Following successful funding approval from UK parliament for Successor class submarine programme, analysts anticipate an award >£1 bln to reflect commencement of production phase for one year

** Broker also sees renewal of a 5-yr Saudi support contract (it estimates total value at c£7bn, but award may be announced in incremental stages) and an original equipment order for an additional 48 Typhoon fighter jets (which it values at c£4 bln)

ADVERTISEMENT

** Brokerage raises FY 2016 EPS by 5 pct, 2017 EPS by 8 pct, and 2018 EPS 8 pct, adds forex profit tailwinds from post-Brexit sterling weakness, and a healthy US market benefitting company

** Up to Thursday's close, stock had risen 5.8 pct YTD vs a 3.5 pct rise in the STOXX Industrial Goods and Services index ; co biggest gainer on index (RM (LSE: RM.L - news) :Sanjeeban.Sarkarthomsonreuters.com@reuters.net)