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Pin to quick picksRolls-Royce Share News (RR.)

Share Price Information for Rolls-Royce (RR.)

London Stock Exchange
Share Price is delayed by 15 minutes
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Share Price: 418.10
Bid: 419.00
Ask: 419.20
Change: -2.30 (-0.55%)
Spread: 0.20 (0.048%)
Open: 419.50
High: 420.80
Low: 413.30
Prev. Close: 420.40
RR. Live PriceLast checked at -

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Miners, oil drag London stocks lower after modest China rate cut

Tue, 20th Jun 2023 17:20

Miners down as metal prices fall on strong dollar, China worries

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Lower oil prices pull energy stocks down

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Rolls-Royce up on CEO comments

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Ocado down after several PT cuts

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FTSE 100 down 0.3%, FTSE 250 off 0.6%

June 20 (Reuters) - Britain's main share indices fell on Tuesday, dragged down by miners and energy stocks as commodity prices took a hit following a smaller-than-expected interest rate cut by top consumer China.

The resource-heavy FTSE 100 slipped 0.3%, hitting a one-week low, while the FTSE 250 mid-cap index fell 0.6%.

Copper prices dipped as China's benchmark rate cuts failed to soothe investor concerns around the top consumer's economic growth, dragging industrial metal miners 2% lower.

"Given expectations across the world whether China was going to see strong recovery post-COVID, it hasn't really materialized that way," said Daniela Hathorn, senior market analyst at Capital.com.

"It's likely that the authorities are concerned about growth, but they also don't want to taunt inflation."

China-exposed insurer Prudential slipped 2.5%.

Heavyweight energy stocks lost 1.1% as oil prices trickled lower, while precious metal miners also responded negatively to lower gold prices, down 1.4%.

Investor focus will now shift to domestic inflation data due Wednesday, to assess the state of economy, leading up to the Bank of England's policy decision on Thursday, with traders widely expecting another 25-basis-point hike.

Meanwhile, industry data showed British grocery inflation eased slightly for the third month in a row in June.

The personal care, drug and grocery stores index gained 0.5%.

Shares of engine maker Rolls-Royce rose 2.1% to a one-month high. It was among top gainers on the FTSE 100 after CEO Tufan Erginbilgic said the company did not rule out future partnerships in the narrowbody airplane market.

U.S. Federal Reserve Chair Jerome Powell's semi-annual monetary policy testimony on Wednesday will also be on the watchlist, after the central bank projected more rate increases this year following a pause last week.

Among other movers, Lookers jumped 33.9% as Global Auto Holdings is set to buy the British car dealership chain for about 465.4 million pounds (about $595 million) in cash.

Ocado Group lost 2.5% after several brokerages cut their target prices for the online supermarket and technology firm's stock. ($1 = 0.7849 pounds)

More News
27 Sep 2023 07:14

Senior secures 12-year contract extension with Rolls-Royce

(Sharecast News) - FTSE 250 engineering and manufacturing group Senior said on Wednesday that its aerospace division has been awarded a 12-year contract extension with Rolls-Royce for the supply of precision machined structures and components.

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26 Sep 2023 10:36

Rolls-Royce and EasyJet reach key milestone in development of hydrogen-powered engines

(Sharecast News) - Rolls-Royce and EasyJet achieved a new milestone in their combined efforts to develop hydrogen-fueled engines.

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25 Sep 2023 13:03

Rolls-Royce and easyJet progress with jet engine running on hydrogen

(Alliance News) - Jet engine maker Rolls-Royce Holdings PLC and airline partner easyJet PLC on Monday said their effort to build an aero engine that runs on green hydrogen achieved a milestone.

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20 Sep 2023 09:34

LONDON BROKER RATINGS: SocGen cuts BAE; BoA resumes IHG with 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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17 Sep 2023 22:39

Sunday newspaper round-up: Labour, British Land, Rolls-Royce

(Sharecast News) - Investors are now backing Labour, dealing a blow to the Prime Minister's efforts to rebuild the Tories reputation for sound money. Two thirds of money managers and traders canvassed by Bloomberg said that the best outcome for markets from the next election would be either a Labour government or a coalition led by Labour.Four fifths of those polled said that confidence in British assets had yet to recover from the mini-Budget crisis under Liz Truss. - The Sunday Telegraph

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10 Sep 2023 11:06

PRESS: Qatar plans to invest GBP4 billion in UK on green tech — Times

(Alliance News) - Qatar plans to invest billions into the UK, with a focus on green energy research & development, the Sunday Times reported on Saturday.

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5 Sep 2023 11:49

Airbus, easyJet, Rolls-Royce join forces in UK on hydrogen-powered flying

LONDON, Sept 5 (Reuters) - Airbus, easyJet and Rolls-Royce have joined forces to try to position Britain at the forefront of hydrogen-powered aviation as the industry plots its course to decarbonisation.

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24 Aug 2023 09:15

LONDON BROKER RATINGS: Credit Suisse raises Pennon to 'outperform'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

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24 Aug 2023 08:54

LONDON MARKET OPEN: Stocks lifted by Nvidia results, US data

(Alliance News) - Stock prices in London made gains at Thursday's open, bouyed by an outperformance from Nvidia late Wednesday, as well as a cautious optimism ahead of the Federal Reserve's Jackson Hole event.

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11 Aug 2023 09:52

LONDON BROKER RATINGS: Deutsche cuts Domino's Pizza; RBC lowers CVS

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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7 Aug 2023 16:52

LONDON MARKET CLOSE: Downbeat start to inflation-focused week

(Alliance News) - Stocks in London closed in the red on Monday, with markets bracing for latest inflation figures from the world's two largest economies in the week ahead.

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7 Aug 2023 11:51

LONDON MARKET MIDDAY: Stocks down ahead of key inflation data

(Alliance News) - Stock prices in London were lower at midday on Monday, as investors eye inflation data from China and the US out on Wednesday and Thursday, respectively.

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7 Aug 2023 09:14

LONDON BROKER RATINGS: JPMorgan lifts Rolls-Royce; RBC cuts Unite

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

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7 Aug 2023 07:57

LONDON BRIEFING: Clarkson backs outlook; Card Factory upbeat

(Alliance News) - Stocks in London are expected to open lower on Monday, with markets seeing little reason to head higher in a quiet start to the week.

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6 Aug 2023 15:30

Sunday newspaper round-up: Battery Technologies, Rolls Royce, Energy bills

(Sharecast News) - Britain needs to invest in key battery technologies in order to avoid becoming dependent on countries like China in the energy transition, the head of the Faraday Institution said. The country required "sovereign capabilities" and its own supply chains, she said. Her remarks followed Tata's announcement that it would construct a £4bn battery gigafactory in Sommerset after securing £500m of subsidies from the government. - Sunday Telegraph

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