Reason for Sp rise6 Oct 2020 11:43
I guess this is the reason for today's rise:
https://citywire.co.uk/funds-insider/news/the-expert-view-halfords-rolls-royce-and-smith/a1408103
"Jefferies: rights issue puts Rolls-Royce on track
Rolls-Royce (RR) has announced plans for a £2bn rights issue that will keep it on track for its 2022 free cashflow target, says Jefferies.
Analyst Sandy Morris retained his ‘buy’ recommendation and target price of 500p on the aerospace engineer. The shares were trading at 113.6p on Friday, down 13% since announcing plans to tackle its £3bn debt pile on Thursday
The company will raise £2bn in a 10-for-three rights issue priced at a 41% discount to 130p, the closing price on Wednesday, to try and shore up its balance sheet in the wake of the Covid-19 pandemic.
‘A £2bn rights and a bond offering of at least £1bn are the lead elements in a holistic package that could also see finalised commitments for a new £1bn term loan and in-principle support from UK Export Finance,’ said Morris.
He said the Rolls-Royce base case included hitting its target free cashflow of £750m ‘as early as 2022’."