Babcock shares have risen 51% this year and are set for their biggest quarterly gain since 2001. European nations are vowing to rearm as the US under President Donald Trump reduces support for its allies.
British warship maker Babcock International Group 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 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.
