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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Rolls-Royce Holdings plc    RR.   GB00B63H8491

ROLLS-ROYCE HOLDINGS PLC

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FTSE 100 retreats after 8-day rally as recovery concerns weigh

11/12/2020 | 04:35am EST

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* UK economy grows by slower-than-expected 1.1% in Sept

* Britain has always worked hard to get EU deal - PM spokesman

* Legal and General slips on keeping 2020 dividend flat

* FTSE 100 down 0.7%, FTSE 250 falls 0.2%

Nov 12 (Reuters) - London's FTSE 100 slipped on Thursday after rallying more than 7% this week as slower-than-expected domestic economic growth in September underscored concerns about a faltering recovery from the coronavirus-driven recession.

The blue-chip FTSE 100 index closed down 0.7%, with engineering company Rolls-Royce Holdings Plc tumbling 8.6% as it raised 2 billion pounds from a rights issue after shareholders signed up for 94% of the new shares and the rest were sold via a rump placing.

Bank and energy stocks were among the biggest draggers after having surged more than 14% and 17% respectively this week.

After rising as much as 0.5% in afternoon trade, the domestically focused mid-cap FTSE 250 ended 0.2% lower as official data showed Britain's economy grew by a slower than expected 1.1% in September from August - even before the latest COVID-19 lockdown.

"It's going to continue to be a stuttered recovery until a vaccine is widely available and the next couple of months are going to be extremely challenging in managing the virus," said Craig Erlam, senior market analyst at Oanda.

UK markets, however, have sharply rebounded this month from a 5% fall in October as a slew of stimulus measures and positive vaccine data supported hopes for a sooner-than-expected economic rebound.

Britain recorded 33,470 new coronavirus cases on Thursday, with a Imperial College study saying English infections doubled in October ahead of the reintroduction of a national lockdown.

On the Brexit front, Britain has been working hard throughout the trade negotiations with the European Union to secure a deal, a spokesman for Prime Minister Boris Johnson said after the Irish prime minister commented that London needed to "knuckle down".

Luxury brand Burberry Group Plc reversed course to end 2.3% lower even after its sales returned to growth in October.

Insurer Legal & General Group Plc fell 1.9% after it kept its final dividend payment for 2020 flat.

Specialty chemicals maker Croda International slipped 2.8% after Barclays downgraded the stock to "underweight".

(Reporting by Devik Jain in Bengaluru; Editing by Devika Syamnath, Anil D'Silva and Mark Heinrich)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BARCLAYS PLC -0.96% 144.9 Delayed Quote.-0.25%
BURBERRY GROUP PLC -0.80% 1788 Delayed Quote.0.87%
CRODA INTERNATIONAL PLC 0.76% 6354 Delayed Quote.-4.40%
EURO / BRITISH POUND (EUR/GBP) -0.21% 0.88442 Delayed Quote.-0.41%
LEGAL & GENERAL PLC 1.46% 271.1 Delayed Quote.0.41%
MSCI UNITED KINGDOM (STRD, UHD) 0.47% 1074.11 Real-time Quote.3.69%
ROLLS-ROYCE HOLDINGS PLC -2.02% 105.5 Delayed Quote.-3.46%
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Financials
Sales 2020 11 066 M 15 153 M 15 153 M
Net income 2020 -2 879 M -3 942 M -3 942 M
Net Debt 2020 3 607 M 4 940 M 4 940 M
P/E ratio 2020 -1,49x
Yield 2020 -
Capitalization 8 973 M 12 241 M 12 288 M
EV / Sales 2020 1,14x
EV / Sales 2021 1,12x
Nbr of Employees 51 700
Free-Float 99,4%
Chart ROLLS-ROYCE HOLDINGS PLC
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Rolls-Royce Holdings plc Technical Analysis Chart | RR. | GB00B63H8491 | MarketScreener
Technical analysis trends ROLLS-ROYCE HOLDINGS PLC
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 93,03 GBX
Last Close Price 107,40 GBX
Spread / Highest target 46,2%
Spread / Average Target -13,4%
Spread / Lowest Target -68,0%
EPS Revisions
Managers and Directors
NameTitle
David Warren Arthur East Chief Executive Officer & Director
Ian Edward Lamert Davis Chairman
Stephen Wayne Daintith Chief Financial Officer & Executive Director
Paul Stein Chief Technology Officer
Lewis William Killcross Booth Independent Non-Executive Director
Sector and Competitors