British warship maker Babcock is set to be promoted to the FTSE 100 next week, replacing Hargreaves Lansdown (HL), which is being taken over by private equity consortium Harp Bidco.
The move follows a 44.5% surge in Babcock's share price since the start of the year, as the UK government continues to commit to ramping up spending on defence. Jupiter's Alex Savvides on investing in UK defence and why Babcock remains undervalued At the time of reporting, Babcock's share price is currently sitting at 722.5p per share, according to data from MarketWatch. The index changes will take effect from 24 March and will see HL deleted from the FTSE 100, having been taken private following its £5.4bn consortium takeover last year. Hargreaves Lansdown agrees to £5.4bn PE ...
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