Footsie in positive territory

Shares in BAE Systems tumbled today after it emerged the defence and aerospace giant will get less than expected for its 20% stake in Airbus.

The stock fell 11.75p to 358p, a drop of more than 3% after investment bank NM Rothschild valued the holding at £1.9bn (€2.75bn) – well below the £3bn (€4.3bn) to £4bn (€5.7bn) hoped for in the City.