Defense giant BAE Systems was among the biggest when Vladimir Putin’s latest escalation of military tensions in Ukraine prompted forecasts of increased military spending.

The FTSE 100 index jumped 4.3 percent, or 33.2 points, to 805 after Russia announced plans to mobilize army reservists to support the invasion after a rapid advance by Ukrainian troops left the Kremlin on the back burner.

About 300,000 soldiers are expected to be drafted initially, a small fraction of what is expected to be a total of 2 million. Putin also plans to hold referendums on the annexation of Ukrainian territories, which, along with the veiled threat of using nuclear weapons, has worried global investors.

Russia wary: BAE Systems jumps after Russia announces plans to mobilize army reservists to support invasion following rapid advance by Ukrainian forces

“Expectations are growing that there will be increased demand for military equipment to counter Russian aggression, with NATO member states already pledging to significantly increase defense spending,” said Hargreaves Lansdown analyst Suzanne Streeter.

Despite this, London’s blue-chip index managed to gain ground, rising 0.63 percent, or 44.98 points, to 7,237.64, while the FTSE 250 added 1.01 percent, or 186.53 points, up to 18,714.67.

The footsie was supported by oil giants, which rose amid talk that the price of Brent crude could soar on fears of an escalating energy crisis.

Shell added 1.4 percent, or 32.5p, to 2,335p, while BP rose 0.7 percent, or 3.05p, to 455.5p and North Sea-focused Harbor Energy , rose 2.4 percent, or 11.1 pence, to 482 pence.

But Moscow’s rhetoric has made it difficult to stock up on trips. British Airways owner IAG fell 3.3 percent, or 3.54p, to 104.8p, ​​Easyjet fell 3.3 percent, or 11.7p, to 340.9p, Wizz Air fell 4, 1 percent, or 83.5p, to 1,962.5p, Tui lost 3.4p. cents, or 4.65p, to 134.2p, while Jet2 fell 3.2 per cent, or 27.6p, to 843.4p.

Meanwhile, blue-chip companies that make much of their money in foreign currency were boosted by a weaker pound, which fell to its lowest level against the US dollar since 1985.

The stock clock is WANdisco

Software company WANdisco has hit an all-time high more than a year after landing its biggest contract ever.

The group, which provides services to help firms move and analyze data, has signed a £22m deal with the world’s top ten communications firms – the fourth between them – bringing the total value to almost £35m.

As a result, bookings for 2022 are expected to be at record levels and “significantly ahead” of expectations. It jumped 20.8pc, or 83.75p, to 487p.

Miners gained, with Glencore up 1.1 percent, or 5.1 pence, to 486 pence, Fresnillo up 0.9 percent, or 6.6 pence, to 747.4 pence, Anglo American added 1.3 percent, or 36.5p to 2,814.5p while Rio Tinto rose 0.5p. per cent, or 24p, to 4,720p.

Builders also rose after reports the chancellor would cut stamp duty in Friday’s “mini-budget” to boost growth. Shares in Persimmon rose 4.7 percent, or 63p, to 1,400p, while Barratt rose 3.5 percent, or 14.1p, to 418.9p, Taylor Wimpey added 3.8 percent, or 3.9p, to 106.95p, while Berkeley rose 1.4 per cent, or 48p, to 3,555p.

There was more good news for pharmaceutical giant AstraZeneca after EU regulators backed one of its asthma drugs. It rose 0.1 percent, or 14p, to 10,090p.

Computer games maker Frontier Developments rose 7.7 per cent, or 92p, to 1,284p after it reported revenues of £114m for the year to May 31, up 26 per cent on 2021 , thanks to strong performances from its new releases, including dinosaur theme park simulator Jurassic World Evolution 2. Profits fell to £1.5m from £19.9m due to a one-off charge.

Meanwhile, Games Industry Support Services provider Keywords Studios has acquired Vancouver-based Smoking Gun Interactive in a £26m deal as it reported first-half pre-tax profits of £34m, up 78 per cent compared to last year. year amid high demand. It fell 1.6 percent, or 38 points, to 2,312 points.

Games Workshop, maker of Warhammer action figures, fell 9.4 per cent, or 660p, to 6,400p after reporting pre-tax profit for the three months to August 28 of £39m, down from £45m a year ago . Sales rose from £98m to £106m.

And property investor LXI rose 1.9 per cent, or 2.6p, to 141p. It is in talks to buy 18 stores from Sainsbury’s (up 0.3 per cent, or 0.6p, to 194.8p) in a deal worth up to £500m.

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