Defense firms see profit increase from higher government spending

Shares in Rolls-Royce rose by 5.5% after the company raised its forecast for annual profits to between £4.7 billion and £4.9 billion, citing increased global defense spending and strong demand in civil aerospace and power generation. The company benefits from government commitments, including NATO agreements, and significant contracts related to defense systems and aircraft engines. BAE Systems also upgraded its profit forecast, expecting a 10% to 12% increase, driven by sustained increases in global defense budgets and new contracts worldwide.

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