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BAE shares rise on trader talk of Lockheed interest
November 27, 2012 / 1:04 PM / 5 years ago

BAE shares rise on trader talk of Lockheed interest

LONDON (Reuters) - Shares in British aerospace group BAE Systems (BAES.L) rose sharply on Tuesday, with four traders citing market speculation of interest in the company from U.S. group Lockheed Martin (LMT.N).

A file photograph shows a member of staff working in the cockpit of an aircraft on the Eurofighter Typhoon production line at BAE systems Warton plant near Preston, northern England September 7, 2012. REUTERS/Phil Noble

“Vague rumours that Lockheed is showing interest,” one trader wrote in an Email.

BAE shares were up by 2.8 percent at 320.80 pence in early afternoon trade, second-top riser on a 0.5 percent higher FTSE 100 index .FTSE.

Traded volume in the stock was 40 percent of its 90-day daily average, against 33 percent for the FTSE 100.

In October, merger talks between BAE and European aerospace group EADS EAD.PA collapsed. (Reporting by Sudip Kar-Gupta; editing by Simon Jessop); +44 207 542 9795 /+44 207 542 7717; Reuters Messaging:

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