BAE slide depresses FTSE

Around £1.2bn (€1.78bn) was wiped from BAE Systems shares today after the defence giant said it faced an anti-corruption probe by the US Department of Justice.

The launch of the investigation into the company’s dealings in Saudi Arabia caused the blue-chip stock to close 34.5p lower at 407.5p – a drop of 8%, although this peaked at 11% earlier in the session.