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BAE shares rise on trader talk of Lockheed interest

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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
Phil Noble  /  REUTERS
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
updated 11/27/2012 8:10:13 AM ET 2012-11-27T13:10:13

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

"Vague rumors 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 collapsed.

(Reporting by Sudip Kar-Gupta; editing by Simon Jessop)

(c) Copyright Thomson Reuters 2012. Check for restrictions at: http://about.reuters.com/fulllegal.asp

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  1. 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
    Phil Noble / REUTERS
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