1024 GMT - BAE Systems' trading update offers limited trading information but its performance underpins the full-year outlook, says Shore Capital. However, BAE's order intake of 25 billion pounds "looks a little light," which may cause downward pressure on the shares. The weakness of USD versus GBP is also expected to be a headwind given BAE's significant exposure to the U.S. Still, BAE is a well-managed company and the threat environment remains supportive, with the U.K. Labour government committed to spending 2.5% GDP on defense and Trump winning the presidential election, Shore says. It reiterates a hold position on the stock. (alistair.macdonald@wsj.com)
(END) Dow Jones Newswires
November 12, 2024 05:24 ET (10:24 GMT)
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