|Bid||660.00 x 0|
|Ask||770.00 x 0|
|Day's range||742.20 - 761.80|
|52-week range||723.40 - 1,034.00|
|Beta (3Y monthly)||0.66|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||0.12 (1.36%)|
|1y target est||974.81|
Could these FTSE 100 (INDEXFTSE: UKX) stocks be absolute bargains now? Andy Ross takes a look at two companies that have caught his eye.
It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also...
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.
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.
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) -- 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 firstname.lastname@example.orgTo contact the editors responsible for this story: Tara Patel at email@example.com, Christopher JasperFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Britain broke the law by allowing arms sales to Saudi Arabia that might have been deployed in the war in Yemen, an English court ruled on Thursday after activists said there was evidence the weapons had been used in violation of human rights statutes. While the court's decision does not mean Britain must immediately halt arms exports to Saudi Arabia, it does mean that there is a stay on the granting of new export licenses to sell arms to the kingdom - Britain's biggest weapons purchaser.
Airbus called on Thursday for a chance to compete for a blockbuster plane order by British Airways owner IAG, which stunned industry executives at this week's Paris Airshow by ordering 200 of Boeing's grounded 737 MAX. Airbus announced a new version of its best-selling A321 with close to 240 orders and commitments in Paris, only to see its grip on IAG's European short-haul networks damaged by the Boeing deal which analysts said shores up the embattled 737 MAX. Boeing's top-selling aircraft has been taken out of service worldwide since an Ethiopian Airlines 737 MAX crashed in March, five months after a Lion Air 737 MAX plunged into the sea off Indonesia.
Specialty steelmaker Voestalpine on Wednesday said it had agreed a 10-year deal to supply Rolls-Royce with materials for use in engine disks, landing its biggest contract so far in the engine segment. Voestalpine materials and special forgings are already used in undercarriage, wing, and engine parts in Airbus, Boeing, Embraer and Bombardier models. The materials it will deliver for the rotating engine disks - which are a substantial part of the engine and have to absorb enormous pressure - will operate in conditions of up to 16,500 rotations per minute and temperatures over 2,000° Celsius, Voestalpine said.