Antofagasta surges as Citigroup raises to buy
Morgan Stanley downgrades Natwest, shares fall
UK water firms gain after chalking out investment plans
BAE Systems up on 4 bln contract for AUKUS submarine programme
FTSE 100 up 0.1, FTSE 250 adds 0.5

Oct 2 Reuters London stocks opened slightly higher on the first trading day of the last quarter of 2023 on Monday, with defence firm BAE Systems among top gainers on the largecap index after winning a contract to build attack submarines.

The exporterheavy FTSE 100 inched up 0.1 amid holidaythinned trade in some markets including topconsumer China.

BAE Systems added 1.7 after Britain awarded the defense firm a 4 billion pound 4.9 billion contract as part of the AUKUS programme with Australia and the United States to build attack submarines. The stock was further boosted by a rating upgrade to Buy by brokerage Berenberg.

The broader aerospace and defense sector added 1.

BAE Systems have outperformed the stock market over the last year… driven by increased demand for defence spending amid the geopolitical uncertainty, Victoria Scholar, head of investment at interactive investor said.

Antofagasta led heavyweight miners higher, jumping 2.2 after Citigroup raised the stock to Buy from Hold.

The more domesticallyfocussed FTSE 250 added 0.5 by 0812 GMT.

The largecap index FTSE 100 closed the previous quarter higher, as investors took comfort from the local economy staying on the trajectory of growth, amid signs of…