FTSE 100 Looks to Close Above 10,000; BAE Systems Rallies

The FTSE 100 rose 0.3% on Monday morning as the index attempted to reclaim the 10,000 level, which it briefly surpassed on Friday before closing below the milestone. 

Sentiment was supported by broader gains across Europe, with the DAX up 0.9%, the CAC 40 rising 0.5% and the Stoxx 600 gaining 0.4%.

Defense stocks led the FTSE higher, with BAE Systems and Babcock International advancing amid ongoing geopolitical uncertainty. 

BAE was the strongest performer, up 4.4%, followed by Endeavour Mining at 4.1%, Fresnillo at 3.6% and Babcock at 3.5%. On the downside, Imperial Brands fell 2.3%, while Bunzl and Next each slipped 1.8%.

In pharmaceuticals, GSK said China’s National Medical Products Administration has approved Nucala (mepolizumab) as an add-on maintenance treatment for adults with inadequately controlled COPD featuring elevated blood eosinophil levels. 

Elsewhere, ATG disclosed it has received a series of unsolicited, opportunistic and highly conditional possible takeover offers from FitzWalter, its largest shareholder, concerning all outstanding shares not already owned by the investor. 

Wizz Air reported strong December traffic figures, carrying 5.85 million passengers, a 15.5% increase from a year earlier. Capacity rose 16.3% to 6.81 million seats, while its load factor declined slightly to 85.9%, down 0.6 percentage points year-on-year.