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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: 430.40
Bid: 430.40
Ask: 430.60
Change: -3.50 (-0.81%)
Spread: 0.20 (0.046%)
Open: 434.20
High: 439.40
Low: 430.40
Prev. Close: 433.90
RR. Live PriceLast checked at -

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Thursday preview: Weekly US jobs data, Rolls Royce in the spotlight

Wed, 22nd Feb 2023 16:37

(Sharecast News) - All eyes on Thursday would be on the US jobs market as the Department of Labor published its weekly unemployment claims figures.

Barclays Research was expecting that the data would reveal that initial jobless claims had only edged higher by 1,000 over the latest week to reach 195,000.

As an aside, two days before it was reported that the widely-followed, albeit not necessarily accurate, Homebase survey was pointing towards a 200,000 person increase in non-farm payrolls.

If correct, that would mark a substantial downshift versus the initial 517,000 gain reported for January.

Also due out was a second reading for fourth quarter gross domestic product growth (consensus: 2.9%).

Atlanta and San Francisco Fed chiefs, Raphael Bostic and Mary Daly, were also scheduled to deliver speeches, at 1550 GMT and 1900 GMT, respectively.

Across the Channel, investors' attention would be on a final reading for euro area consumer prices covering the month of January due out at 1000 GMT.

On home shores, at 1100 GMT, the Confederation of British Industry would release its distributive trades survey for the month of February.

In Asia, rate-setters in Seoul were expected to announce their decision to keep official short-term interest rates unchanged at 3.50%.

Heading into Rolls Royce's full-year results, Michael Hewson, chief market analyst at CMC Markets UK, sounded a cautious note.

"As we look ahead to the new fiscal year let's hope the new CEO paints a more upbeat and more optimistic outlook than the one, he laid out last month," Hewson said.

"After all, if he can't paint a positive outlook for the business, why should shareholders."

Shortly after coming onboard earlier in 2023, Rolls Royce boss, Tufan Erginbilgic, had described the engineer as a "burning platform", although the shares had continued to stabilise.

Nonetheless, Hewson noted airlines' slow return to their pre-Covid flying patterns which in his opinion was a potential plus for the company.

The reopening of China's economy should also benefit the business through higher flying hours for large engines and the company had paid down a £2bn floating rate loan.

Thursday 23 February

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QUARTERLY PAYMENT DATE

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INTERNATIONAL ECONOMIC ANNOUNCEMENTS

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Crude Oil Inventories (US) (16:00)

GDP (Preliminary) (US) (13:30)

Harmonised Index of Consumer Prices (EU) (10:00)

Initial Jobless Claims (US) (13:30)

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