Warship Maker Babcock to Join FTSE 100 After Defense Rally
Naval vessel construction work at Babcock International Group, in Rosyth.
Photographer: Andrew Milligan/PA/Getty Images
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British warship maker Babcock International Group Plc will rejoin the FTSE 100 index amid a rally in defense stocks as Europe ramps up security spending.
The London-based firm will replace Hargreaves Lansdown Plc in the benchmark on Monday, FTSE Russell said in a statement. A spot is opening up in the index because Hargreaves has agreed to a takeover by a group of private equity firms.