UK defence stocks rise after Norway picks Britain for $13.5 billion frigate deal

Babcock International

01/09/2025 08:30

** UK defence sub-index .FTNMX502010 rises 1.7% to 19,658.2p after Norway selects Britain for nearly 10 billion-pound ($13.51 billion) frigate deal

** Deal creates combined fleet of 13 anti-submarine warfare frigates – 8 British and at least 5 Norwegian – operate jointly in northern Europe

** BAE Systems BAES.L gains 2.9% and leads sub-index; second-biggest gainer on FTSE 100, which is up 0.35%, immediately followed by Babcock BAB.L which is up 2.6%

** Other constituents of sub-index Rolls-Royce RR.L, Chemring CHG.L and QinetiQ QQ.L rise between 1% an 1.7%, while Senior SNR.L slips 0.2%

** YTD, as of last close, sub-index up about 67.7%, FTSE 100 gained 12.5%

($1 = 0.7402 pounds)

 (Reporting by DhanushVignesh Babu in Bengaluru)

 ((DhanushVignesh.Babu@thomsonreuters.com;))