Reuters logo
BAE shares rise on trader talk of Lockheed interest
November 27, 2012 / 1:15 PM / 5 years ago

BAE shares rise on trader talk of Lockheed interest

LONDON (Reuters) - Shares in British aerospace group BAE Systems (BAES.L) rose sharply on Tuesday, with four traders citing market speculation of interest in the company from U.S. group Lockheed Martin (LMT.N).

A file photograph shows a member of staff working in the cockpit of an aircraft on the Eurofighter Typhoon production line at BAE systems Warton plant near Preston, northern England September 7, 2012. REUTERS/Phil Noble

“Vague rumors that Lockheed is showing interest,” one trader wrote in an Email.

BAE shares were up by 2.8 percent at 320.80 pence in early afternoon trade, second-top riser on a 0.5 percent higher FTSE 100 index .FTSE.

Traded volume in the stock was 40 percent of its 90-day daily average, against 33 percent for the FTSE 100.

In October, merger talks between BAE and European aerospace group EADS EAD.PA collapsed.

Reporting by Sudip Kar-Gupta; editing by Simon Jessop

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below