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    RR.   GB00B63H8491

ROLLS-ROYCE HOLDINGS PLC

(RR.)
  Report
Delayed London Stock Exchange  -  11:35 2022-10-06 am EDT
71.29 GBX   -3.56%
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FTSE 100 ends flat after BoE's biggest rate hike in 27 years

08/04/2022 | 04:11am EDT

* BoE hikes bank rate by 50 bps, biggest hike since 1995

* Unilever down as Ben & Jerry's says it froze directors' salaries

* Medtech company ConvaTec leads gains among midcaps

* FTSE 100 flat, FTSE 250 adds 0.7%

Aug 4 (Reuters) - The FTSE 100 stock index was little changed on Thursday as investors weighed the biggest interest rate hike from the Bank of England in 27 years, which raised fears of a looming recession even as it weighed on the pound.

The British central bank's Monetary Policy Committee voted 8-1 for a half percentage point rise in Bank Rate to 1.75% - the highest level since late 2008.

"The Bank of England has clearly decided that now is the right time to bring out more firepower and raise rates by 0.5% for the first time since 1995," said Paul Craig, portfolio manager at Quilter Investors.

"It has clearly taken note of what the Federal Reserve is doing in the U.S. and feels it could be running out of time to grapple inflation and get it under control."

The BoE's move weakened the pound and helped lift the blue-chip FTSE 100 index to session highs moments after the decision, but the index closed the day flat.

The domestically focussed midcap index was up 0.7%.

"The pound's slump in the wake of today's MPC decision underlines the caution investors have regarding the UK economy," said Chris Beauchamp, chief market analyst at online trading platform IG.

Even as recession fears mount across the world, UK stocks have fared better than their peers so far this year.

Shares of Unilever Plc slipped 0.7% after Ben & Jerry's independent board said the company had frozen its directors' salaries last month as a pressure tactic.

Rolls-Royce dragged down the aerospace and defence sector, tumbling 9% even as the aero-engineer said it would see its squeezed operating profit margin improve in the second half.

Gold miner Centamin Plc rose 7.3% after it reported a 4% rise in its first-half revenue supported by higher bullion prices.

Medical technology company ConvaTec jumped 6.8%, among midcap gainers, after reporting higher first-half revenue. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shinjini Ganguli and Bernadette Baum)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / BRITISH POUND (AUD/GBP) 0.11% 0.57399 Delayed Quote.6.06%
CANADIAN DOLLAR / BRITISH POUND (CAD/GBP) 0.63% 0.651759 Delayed Quote.10.54%
CENTAMIN PLC -0.57% 90.34 Delayed Quote.2.30%
CONVATEC GROUP PLC 1.34% 211 Delayed Quote.7.79%
EURO / BRITISH POUND (EUR/GBP) 0.49% 0.87704 Delayed Quote.3.76%
FTSE 100 -0.78% 6997.27 Delayed Quote.-4.49%
FTSE MID 250 INDEX 0.40% 17632.64 Delayed Quote.-25.21%
INDIAN RUPEE / BRITISH POUND (INR/GBP) 0.96% 0.010925 Delayed Quote.7.85%
ROLLS-ROYCE HOLDINGS PLC -3.56% 71.29 Delayed Quote.-39.84%
UNILEVER PLC -0.39% 3932 Delayed Quote.0.05%
US DOLLAR / BRITISH POUND (USD/GBP) 1.71% 0.895704 Delayed Quote.18.15%
All news about ROLLS-ROYCE HOLDINGS PLC
04:42aRolls Royce : "Green methanol" will power innovative mtu marine...
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10/05Rolls-Royce and SOWITEC cooperate on power-to-X projects
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10/04Nestle pledges $1 billion to coffee sustainability plan
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10/04Rolls-Royce, Sowitec to Collaborate on Green Hydrogen, E-fuels Production
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10/03Rolls-Royce and Water Revolution Foundation driving sustainability in the superyacht in..
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09/30Rolls-Royce and Lurssen to focus on methanol propulsion for large yachts
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09/29Rolls-Royce delivers mtu Hybrid PropulsionPack for mega yacht to be built by Turquoise ..
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09/28Rolls-Royce Secures Order for Propulsion System from Turkey's Turquoise Yachts
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09/27Rolls-Royce delivers 1,000th BR725 engine to Gulfstream
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09/27ROLLS-ROYCE : JP Morgan reiterates its Sell rating
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Analyst Recommendations on ROLLS-ROYCE HOLDINGS PLC
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Financials
Sales 2022 11 626 M 13 007 M 13 007 M
Net income 2022 96,0 M 107 M 107 M
Net Debt 2022 3 487 M 3 901 M 3 901 M
P/E ratio 2022 64,5x
Yield 2022 -
Capitalization 5 975 M 6 685 M 6 685 M
EV / Sales 2022 0,81x
EV / Sales 2023 0,74x
Nbr of Employees 44 000
Free-Float 99,9%
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Mean consensus HOLD
Number of Analysts 15
Last Close Price 71,29 GBX
Average target price 93,29 GBX
Spread / Average Target 30,9%
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Managers and Directors
David Warren Arthur East Chief Executive Officer & Director
Panos Kakoullis Chief Financial Officer & Executive Director
Anita Margaret Frew Chairman
Grazia Vittadini Chief Technology & Strategy Officer
Hsien Yang Lee Independent Non-Executive Director
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