Proactive Investors - BAE Systems (LON:BAES) rose on Wednesday after the defence firm announced an expansion of its contract with the US Army for infantry fighting vehicles.
Existing models of the M2 Bradley Infantry Fighting Vehicle will be retrofitted and made into the later M2A4 version under the latest US$78 million deal.
This is in a bid to extend the lifespans of the vehicles, with the A4 models boasting more recent digitised electronics, aimed at improving network connectivity and communication.
The deal takes the total delivery order for the BAE Bradley vehicles, which have been in operation since the 1980s, to US$750 million.
A US$266.9 million deal had most recently been awarded to BAE from the US Army in 2022 for the A4 variant of the vehicles.
Shares in BAE climbed as much as 1.3% on Wednesday morning, before subsiding to 1,121.60p - up 0.5% on Tuesday’s close.