RR.L - Rolls-Royce Holdings plc
| Previous close | 761.40 |
| Open | 763.00 |
| Bid | 749.80 x 0 |
| Ask | 750.40 x 0 |
| Day's range | 749.60 - 765.60 |
| 52-week range | 723.40 - 1,024.00 |
| Volume | 3,308,893 |
| Avg. volume | 5,099,164 |
| Market cap | 14.4B |
| Beta (3Y monthly) | 0.66 |
| PE ratio (TTM) | N/A |
| EPS (TTM) | -129.20 |
| Earnings date | N/A |
| Forward dividend & yield | 0.12 (1.36%) |
| Ex-dividend date | 2019-04-25 |
| 1y target est | 974.81 |
- Reuters - UK Focus
Legal & General plans rival product to compete with new pension superfunds
UK insurer Legal & General aims to take on incoming pension superfunds with a similar product of its own to bolster corporate retirement schemes, a company executive told Reuters. Legal & General is already talking to employers and regulators about the product, which would be suitable for schemes that may not be able to afford a so-called bulk annuity - insurance that pensions will be paid in full - Laura Mason, CEO of Legal & General retirement institutional, said. "We are working with a couple of (employer) sponsors," she said, adding that the product could be used by pension schemes with a "medium" level of funding.
- Fool.co.uk
When will the Rolls-Royce share price be worth buying?
With a month of turbulent news, are Rolls-Royce Holding plc (LON: RR) shares ready for a recovery?
- Reuters - UK Focus
UPDATE 2-Dozens of Airbus A380s face urgent checks after cracked part dug from ice
Investigators probing an engine explosion on an Air France A380 in 2017 are studying a possible manufacturing flaw in a recently salvaged cracked part in a move likely to trigger urgent checks on dozens of Airbus superjumbos, people familiar with the matter said. The titanium alloy part is the centrepiece of a 3-metre-wide fan on engines built for the world's largest airliner by U.S.-based Engine Alliance, co-owned by General Electric and United Technologies unit Pratt & Whitney. It had sat buried in Greenland's ice sheet since September 2017 when one of four engines on Air France flight 66 abruptly disintegrated en route from Paris to Los Angeles.
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- Simply Wall St.
How Many Rolls-Royce Holdings plc (LON:RR.) Shares Did Insiders Buy, In The Last Year?
It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...
- Reuters - UK Focus
UPDATE 2-Hong Kong tensions knock FTSE 100's Asia-exposed stocks
London's FTSE 100 surrendered early gains on Monday, with Asia-focused shares particularly badly hit by worries over protests in Hong Kong, while tour company Thomas Cook plunged after updating on its recapitalisation plans. The FTSE 100 index ended 0.4% lower, while the midcap index dropped 0.9% as concerns about the health of the British economy, the world's fifth-largest, lingered after data on Friday showed a surprise downturn in the last quarter.
- Reuters - UK Focus
UPDATE 3-Britain would face food shortages in no-deal Brexit, industry body says
Britain will experience shortages of some fresh foods for weeks or even months if a disorderly no-deal Brexit leaves perishable produce rotting in lorries at ports, Britain's food and drink lobby warned on Wednesday. Retailers such as Tesco have warned that leaving the European Union on Oct. 31 without a transition deal would be problematic as so much fresh produce is imported and warehouses are stocked full ahead of Christmas.
- Reuters - UK Focus
UPDATE 2-Legal & General profits boosted by corporate pension deals
Companies are increasingly eager to offload pension scheme liabilities to insurance companies such as L&G, which is a major player in this so-called bulk annuity market, insuring companies' final salary pension schemes. In June, it agreed to a record 4.6 billion pound bulk annuity deal with the Rolls-Royce UK pension scheme. "So we're feeling good about the fundamentals of our business, not just in H2 but over the next 10 years," said Chief Executive Nigel Wilson.
- Bloomberg
Rolls-Royce Suffers Cash Drain From Jetliner, Brexit Bottlenecks
(Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Rolls-Royce Holdings Plc’s cash outflow ballooned in the first half as a bottleneck in plane deliveries at Airbus SE and Boeing Co. reduced engine revenue and stockpiling for a no-deal Brexit led to a build up of parts.Europe’s biggest jet-engine maker posted negative underlying free cash flow of 429 million pounds ($522 million) for the six months, almost six times the level of a year earlier. The shares fell as much as 2.3%.Rolls currently has about 50 turbines awaiting delivery, compared with the usual 15 or so. Chief Executive Officer Warren East predicted “significant improvements” in the second half and said the company should reach its full-year cash goal as the inventory build up unwinds.Rolls earnings show the ripple effects on suppliers as planemakers grapple with their highest-ever order backlogs amid a surge in air travel. Production setbacks spanning poor-quality seats to engine glitches have held back output, forcing Airbus and Boeing to keep plants operating over the Christmas holidays last year in order to meet delivery targets.787 ChargeThe U.K. company was hit with its own manufacturing issues when faults were found in engines powering the Boeing 787 model. East announced a further charge for repairs to the jet, and another for Airbus’s early termination of the A380 superjumbo, as well as higher restructuring costs. He cited a near one-third jump in operating profit on higher margins on A350 turbines and gains at defense and power-systems arms as indicating a healthy underlying business.The power unit, which makes marine, land and industrial engines and power-generation products, accounted for about half of the inventory build up. The company has spent close to 100 million pounds to smooth its supply chain in the event of a no-deal Brexit, including additional shipping capacity and extra warehouse space in the U.K. and mainland Europe, as well as stockpiling parts.Across the group, the value of inventory held should decrease by 500 million pounds through the second half, aided by reduced 787 groundings, Rolls-Royce forecasts. The company is targeting full-year free cash flow of 700 million pounds, plus or minus 100 million pounds.Shares of Rolls, which doesn’t make engines for Boeing’s grounded 737 Max, were trading 0.8% lower at 807.80 pence as of 9:40 a.m. in London, taking the stock’s decline this year to 2% and valuing the group at 15.5 billion pounds.Earnings Highlights:(Updates with planemaker delivery issues in fourth paragraph, predicted inventory rundown in seventh.)To contact the reporter on this story: Benjamin Katz in London at bkatz38@bloomberg.netTo contact the editors responsible for this story: Tara Patel at tpatel2@bloomberg.net, Christopher JasperFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters - UK Focus
UPDATE 2-European shares extend trade driven slide to third day
European shares finished lower on Tuesday weighed down by trade worries as support from upbeat German data and China stepping in to stabilise its currency proved to be temporary. "The bounce that we saw in the morning was not necessarily well founded so therefore it is duly fading as we get to the close," said City Index analyst Ken Odeluga. The brief bounce after a two-day sell-off was spurred by China's central bank fixing the yuan at a slightly stronger rate on Tuesday, allaying fears that Beijing would use its currency as the new front in its trade battle with the United States.
- Reuters - UK Focus
UPDATE 2-FTSE 100 falls for 6th straight day on U.S.-China trade spat
London's FTSE 100 closed sharply lower on Tuesday, its sixth straight session in the red, bringing its losses to more than 5% since U.S. President Donald Trump announced more tariffs on Chinese exports, while poor results sent Rolls-Royce tumbling. The FTSE 100, which suffered its worst day this year in the last session, lost 0.7% to end the session below its 200-day moving average - seen as a technical support level - for the first time since late May.
- Reuters - UK Focus
LIVE MARKETS-What we're watching at the open
- Reuters - UK Focus
UPDATE 2-Rolls-Royce expects cash flow rise in H2 as engines are delivered
British engineer Rolls-Royce said a build-up of inventory such as the Trent 7000 engine that powers the Airbus A330neo would unwind in the second half and drive a "significant improvement" in cash flow. Chief Executive Warren East said Rolls was on track to meet its guidance of 700 million pounds ($854 million), give or take 100 million pounds, in cash flow this year, despite its outflow in the first half jumping to 429 million pounds. "We expect a significant improvement in cash in the second half as we unwind inventory built up to support customer deliveries and benefit from improved trading in both Power Systems and Civil Aerospace," he said on Tuesday.
- Investing.com
StockBeat: Markets Stabilize After China Shock; Vivendi Surges on UMG Deal
By Geoffrey Smith
- Reuters - UK Focus
Britain signs $425 million Typhoon engine contract with Rolls-Royce
- Reuters - UK Focus
UPDATE 1-Indian police open probe into Rolls-Royce's dealings with three state firms
Indian federal police have opened an investigation into Rolls-Royce Holdings Plc, alleging the UK-based engine maker and its Indian arm improperly used a third-party to conduct business with three Indian state-owned companies. In a report published on Tuesday, India's Central Bureau of Investigation (CBI) also said officials from the Indian companies - Hindustan Aeronautics Limited (HAL), ONGC and GAIL - may have been involved in improper procurement from Rolls-Royce. Rolls-Royce provided engine spare parts to HAL for servicing gas turbines used by GAIL and ONGC, both of which are involved in the oil and gas sector, the report said.
- Reuters
Indian police open probe into Rolls-Royce's dealings with three state firms
Indian federal police have opened an investigation into Rolls-Royce Holdings Plc , alleging the UK-based engine maker and its Indian arm improperly used a third-party to conduct business with three Indian state-owned companies. In a report published on Tuesday, India's Central Bureau of Investigation (CBI) also said officials from the Indian companies - Hindustan Aeronautics Limited (HAL), ONGC and GAIL - may have been involved in improper procurement from Rolls-Royce. Rolls-Royce provided engine spare parts to HAL for servicing gas turbines used by GAIL and ONGC, both of which are involved in the oil and gas sector, the report said.
- Reuters - UK Focus
UPDATE 1-Britain and Sweden agree to co-operate on fighter plans
Britain and Sweden agreed on Friday to study air combat co-operation over the next decade and opened the door to other potential partners in a move that could see the Scandinavian country join a planned next-generation UK fighter project. Britain last year unveiled plans for a fighter plane and cohort of drones named Tempest, raising questions about the future of European defence co-operation as France and Germany pursue their own air combat programme to meet growing threats. Tempest, meant to eventually replace the Eurofighter Typhoon from 2040, will be developed and built by BAE Systems, Britain’s biggest defence company, alongside UK engine maker Rolls-Royce, the UK arm of Italian defence firm Leonardo and European missile maker MBDA.
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- Reuters - UK Focus
Britain wants accountability over Khashoggi murder - PM May
Britain wants to see accountability for the murder of journalist Jamal Khashoggi and Saudi Arabia should investigate the death thoroughly and in a way that adheres to international laws, Prime Minister Theresa May said on Wednesday. Last week, a U.N. rights investigator said Saudi Crown Prince Mohammed bin Salman and other senior officials should be investigated over the murder, given credible evidence against them. "We do want to see accountability for this horrific murder... We expect Saudi Arabia to take the action necessary to ensure such violations of international and national laws can't happen again," May said in parliament.
- Reuters - UK Focus
BAE Systems will fulfill UK-Saudi contracts after arms export ruling
Leading British defence firm BAE Systems said on Thursday it would continue to support the government in its agreements it has made with Saudi Arabia following a court ruling that Britain had granted arms export licences unlawfully. "We continue to support the UK Government in providing equipment, support and training under government to government agreements between the United Kingdom and Saudi Arabia," BAE Systems said in a statement after the ruling, which does not halt exports but means Britain will pause issuing new licences. "We will assess the result of the UK Government's reconsideration of its decision-making on the basis set out by the court, once it has been made," it said, adding it complied with all relevant export control laws.
- Reuters - UK Focus
Saudi Arabia says ending British arms exports would help Iran
Iran would be the only beneficiary of any end to arms exports from Britain to Saudi Arabia, the kingdom's minister of state for foreign affairs said on Thursday, adding that the deployment of weapons in Yemen was legitimate. A UK court earlier found that Britain broke the law by allowing arms sales to Saudi Arabia that might have been used in Yemen's war. The ruling does not halt Britain's arms exports but means the granting of new licences will be paused.
- Reuters - UK Focus
Saudi Arabia says Iran has created "very grave" situation in Gulf
Iran has created a grave situation and jeopardised global oil supplies with its aggressive behaviour, Saudi Arabia's minister of state for foreign affairs said on Thursday, adding that the kingdom was consulting with allies on next steps. The United States and Saudi Arabia are among countries that have blamed Iran for attacks on oil tankers near the Strait of Hormuz, a major transit route for global oil supplies. "I think the situation is very grave because of the aggressive behaviour of Iran," Adel al-Jubeir told reporters in London.
