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Defence-related UK stocks outperform on spending boost plan

Reuters - UK Focus

LONDON, Nov 23 (Reuters) - Security-related stocks such as Rolls Royce (LSE: RR.L - news) and BAE Systems (LSE: BA.L - news) rose in early trading on Monday, outperforming Britain's blue-chip FTSE 100 index, after the country planned to boost its anti-terrorism spending by 30 percent.

Britain also plans to increase the number of stealth fighter jets it can launch from aircraft carriers over the next decade, finance minister George Osborne said on Sunday.

"There is every likelihood that the defence sector is going to get a larger piece of financing than expected earlier," IG analyst Alastair McCaig said.

Shares (Berlin: DI6.BE - news) in Rolls Royce and BAE Systems were up about 1 percent, against a 0.8-percent weaker FTSE 100 index. (Reporting by Atul Prakash; Editing by Lionel Laurent)