Live Markets: Healey's war chest

Babcock International

27/10/2026 11:38

Adds new blog entry
STOXX 600 up 0.2%
HSBC shares slide 6.5% after results
FTSE underperforms
Wall Street futures rise
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
     
HEALEY'S WAR CHEST
British finance minister John Healey is delivers his first budget on Wednesday, with defence spending sitting close to the top of his agenda. 
Healey resigned as defence secretary in former PM Starmer's government, saying the Treasury was unwilling to commit resources needed to defend the country at the time of rising threats. 
Someone so committed to defence spending sitting at the head of the finance ministry should be music to the ears of Britain's defence contractors.
New PM Andy Burnham on Monday said Healey will be setting out a plan to fully fund the government's existing defence commitments alongside a pathway to hitting its 2035 NATO spending pledge. 
According to Jefferies, Babcock and QinetiQ are most exposed to Ministry of Defence spending, with both generating around 60% of their revenue from the MoD. Cohort is also "meaningfully leveraged", notes Jefferies. 
     (Samuel Indyk)
*****
     
EARLIER ON LIVE MARKETS
BOFA OVERWEIGHT 'ANTI-AI' FOOD AND BEVERAGE STOCKS CLICK HERE
BEARISH EQUITY POSITIONING INCREASING ACROSS REGIONS CLICK HERE
SOFT START, FTSE DRAGGED LOWER BY HSBC CLICK HERE
EUROPE BEFORE THE BELL: POSITIVE TONE FADES CLICK HERE
ALL EYES ON AI CLICK HERE