Defence Stocks Soar as New Chancellor's Ties to Sector Raise Hopes The appointment of John Healey as Britain's new Chancellor has sent a clear signal to investors: defence spending is about to get a boost.
Shares in top defence companies like Babcock, BAE Systems, and Qinetiq have risen significantly, with some jumping by as much as 7. 8% on the FTSE 100.
Healey's background in defence is well documented – he resigned as Defence Secretary just last month after a dispute over the government's long awaited defence investment plan.