London stocks kick off Q4 on higher note, BAE Systems shines

London stocks opened slightly higher on Monday, the first trading day of the last quarter of the year, with defence firm BAE Systems jumping to the top of the large-cap index after winning a contract to build attack submarines.

BAE Systems (BAES.L) added 2.2% 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 broader aerospace and defense sector (.FTNMX502010) added 1%.

The internationally focused FTSE 100 (.FTSE) inched up 0.1% by 0711 GMT amid holiday-thinned trade in some global markets including top-consumer China.

The more domestically focussed FTSE 250 (.FTMC) added 0.6%.

Among other movers, Pennon Group (PNN.L) added 4.0% and United Utilities (UU.L) added 2.3% after the water companies outlined their respective investment plans.

Meanwhile, domestic house prices in September were 5.3% lower than a year earlier, matching their fall in August which was the biggest annual drop since 2009, as per mortgage lender Nationwide.

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