1002 GMT - BAE Systems is among the most mentioned companies across news items over the past four hours, according to Factiva data. The U.K. defense-and-aerospace group raised guidance after it reported a strong first half, reflecting record order books as governments raised spending due to the war in Ukraine. The company also extended its share buyback program by 1.5 billion pounds ($1.92 billion), a move which can be seen as positive due to its limiting effect on large-scale M&A, according to Quilter Cheviot analyst Jarek Pominkiewicz. BAE was reported to be in the running for Ball Aerospace, and this now seems to be off the table given how expensive a deal could have ended up being, Pominkiewicz says. The news sent the company's shares to the top of the FTSE 100 index risers in early trade. The stock is currently trading 4.65% higher at 976.80 pence. Dow Jones & Co. owns Factiva. (anthony.orunagoriainoff@dowjones.com)

(END) Dow Jones Newswires

August 02, 2023 06:18 ET (10:18 GMT)

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