BAE Systems share buyback: company buys more stock as Middle East conflict rattles markets
BAE Systems plc disclosed it repurchased 97,895 shares on March 4, paying a volume-weighted average of 2,237.12 pence per share and intends to cancel the stock. That brings total buybacks under the second leg of its program to 18,325,554 shares at an average price of 1,856.03 pence, according to the company. This ordinary-seeming buy shows up in a market that’s been far from ordinary lately. “The merest whiff that a resolution to the conflict is on the cards is helping European stocks rebound,” said Kathleen Brooks, research director at XTB, referencing the shaky mood tied to the Middle East war.