BAE Systems shares fly as defence sector receives a boost amid Ukraine summit

Over the weekend the Prime Minister Sir Keir Starmer held a summit for Ukraine and the weapons manufacturer BAE Systems have seen their shares soar as a result.

On Monday morning shares in the weapons and fighter jet manufacturer jumped by 19% which helped the FTSE 100 rise to a new high by 88832.8.

Starmer vowed to “develop a coalition of the willing” to defend Ukraine and guarantee a peace plan during the meeting at Lancaster House on Sunday.

Starmer announced a £1.6 billion finance deal to allow Ukraine to buy over 5,000 French missiles from Thales Group.