Shares in focus: The champ is on the ropes

Britain’s defence champion is taking a battering – don’t bet on a comeback, says Phil Oakley.

BAE Systems is a champion of Britain’s manufacturing sector and one of the world’s leading defence companies. The maker of planes, combat vehicles, ships, submarines and lots of clever bits of electronic kit has done reasonably well over the last decade or so.

The wars in Afghanistan and Iraq saw a surge in demand for its products, as did the fact that lots of military kit around the world needed replacing and bringing up to date.

The company also sold its stake in [...]

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