Aerospace manufacturing company Melrose Industries PLC (LSE:MRO, OTC:MLSPF) has shot to the top of Wednesday's FTSE 100 risers list with a 2.5% share price gain
It comes after Labour prime minister Keir Starmer restated his pledge to increase defence spending to 2.5% of gross domestic product.
In an interview with LBC radio, Starmer was asked if Britain would consider increasing defence spending to 3% of GDP.
"The commitment we've made is to set out a path to 2.5%," he replied.
The question was in reference to NATO Secretary General Mark Rutte’s warning of threats posed by Russia in the coming years.
Rutte urged NATO members to rethink their defence spending pledges.
Incoming president Donald Trump has routinely criticised other members for failing to pay their fair share into the NATO defence budget.
He has taken particular aim at European countries and has suggested that the US will not come to NATO members’ aid if they are delinquent in their payments.
Melrose shares were swapping for 552.12p at the time of writing.