Hopes were raised last night that new Chancellor John Healey will push Britain towards a higher defence spend.

Hopes were raised last night that new Chancellor John Healey will push Britain towards a higher defence spend.

Defence supply giants Babcock and Rolls-Royce were among the biggest risers when markets opened on Tuesday.

John Healey has been appointed as Andy Burnham's new Chancellor, a month after dramatically quitting as defence secretary amid an argument about defence funding.

Mr Healey has been named as Chancellor to replace Rachel Reeves after Andy Burnham became Prime Minister.

Iseq advances marginally with AIB driving force

Wes Streeting said Prime Minister Andy Burnham's appointment of John Healey as Chancellor proved the Armed Forces have a 'firm friend' in the Treasury.

Former British Defense Secretary John Healey, who resigned under Sir Keir Starmer in a row over military funding, is now in charge at the Treasury. Prime Minister Andy Burnham…