0838 GMT - U.K. defense companies will benefit from the appointment of John Healey as the country's new finance chief, J.P. Morgan analysts write. Healey previously resigned from his former role overseeing the British armed forces as defense secretary in protest at the level of defense spending. In his resignation note, Healey said: "I am certain that a headmark date for 3% of GDP on defense in 2030 is what Britain must set." The U.K. expects to spend 2.7% of GDP on defense by the end of the decade. "We think it is very likely that Mr Healey will now seek to boost U.K. defense spending," the analysts write. Babcock shares jump 7.7%, BAE Systems gains 3.5% and QinetiQ rises 4.1%.(josephmichael.stonor@wsj.com)

(END) Dow Jones Newswires

July 21, 2026 04:38 ET (08:38 GMT)

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