There have been more embarrassing headlines for BAE Systems following the US detentions of Mike Turner, chief executive, and Nigel Rudd, a non-executive director, in connection with corruption allegations over arms sales to Saudi Arabia.

BAE is almost a tale of two companies. Financially, the company is in rude health, buoyed by record orders, a hefty war chest and leading market positions. On Monday, analysts in general recommended buying on the share price dip. But the other story involves the corruption allegations.