UK's defence and aerospace stocks tumble on Airbus' delivery forecast cut
Updates
** Britain's aerospace and defence stocks .FTNMX502010 tumble 2.3% vs a largely flat FTSE 100 .FTSE as France's Airbus AIR.PA warns on profit and downgrades its forecast for deliveries
** Airbus lowered its widely watched forecast for deliveries this year to around 770 jets from around 800
** Largest index constituents Rolls Royce RR.L and BAE Systems BAES.L down 3.4% and 1.1%, respectively
** Shares of Melrose MRON.L, the largest index mover, drop nearly 4% to their lowest since Dec 7
** Chemring CHG.L, Senior SNR.L, QinetiQ QQ.L and Babcock BAB.L also down between 1.5% and 1.7%.
** The aerospace and defence sub-index drops to 1-month low of 11,067.6p
** RR logs biggest intraday pct fall since April 9
** Airbus shares drop around 9% to December lows
** The sub-index up ~30% so far this year
Reporting by Echha Jain and Prerna Bedi in Bengaluru
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