DIRECTOR’S DEALS

THE outgoing chief executive of BAE Systems has cashed in more than 130,000 shares. Ian King, who retires in June, sold 130,026 shares at 611p each on Thursday, making £794,458.86 . Last week the defence firm revealed sales had risen by £1.1bn to £19bn during 2016, mostly due to favourable exchange rates. BAE was also expecting a boost from the Trump administration due to his calls for more defence spending. King will be replaced by chief operating officer Charles Woodburn.