UK military stocks soar over Trump’s Pentagon budget plan

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‘US President Donald Trump’s plan to increase military spending has given a major boost to British weapons manufacturers in the stock market.

Meggit, Rolls-Royce, BAE Systems, and Babcock were some of the companies that reported soaring stocks on Tuesday, a day after Trump announced a “historic” increase in the Pentagon budget.

Speaking in a meeting with dozens of state governors at the White House, Trump said Monday that the decision was aimed at rebuilding America’s “depleted military.”

The following day, Babcock, a UK-based company with more than 35,000 employees worldwide, reported a 4-percent increase in shares.’

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