0758 GMT - BAE Systems' incremental benefit from accessing the European Union's planned loans mechanism for joint defense procurement will be limited, Jefferies analysts Chloe Lemarie and Ben Brown say. This is because the British defense group already has operations fully based within the EU through its Swedish subsidiaries Hagglunds and Bofors, and takes part in joint ventures and consortia within the bloc such as MBDA and Eurofighter, they note. The U.K. and the EU agreed a deal on Monday that paves the way for U.K. defense companies to access the bloc's Security Action for Europe mechanism, worth 150 billion euros. Shares in BAE are up 0.1% at 17.79 pounds, after trading flat on the news on Monday. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
May 20, 2025 03:58 ET (07:58 GMT)
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