Rolls-Royce: FTSE 100 shares reach record high as £70bn valuation nears
Shares in Rolls-Royce have achieved a new record high as the FTSE 100 giant edges closer to being worth £70bn.
The Derby-headquartered group finished trading on Thursday, 15 May, with a share price of 816p, 4p higher than its previous record which it set on 19 March.
The total means that Rolls-Royce ended the day with a market capitalisation of £69.1bn, the largest in its history.
The landmark comes after Morning Wire reported earlier this week that shares in the group had passed the 800p mark for only the fourth time.
Rolls-Royce first passed the 800p mark on 5 March before the ups and downs of the London Stock Exchange that month saw it do so it twice more in the following couple of weeks.
But the FTSE 100 giant saw its share price slump to 635p in the wake of US President Donald Trump’s tariff announcement at the start of April. The fall wiped around £10bn off Rolls-Royce’s valuation.
But since its low point on 7 April, the group’s share price has been steadily recovering and has now hit its latest landmark.
Rolls-Royce nears £70bn landmark
Earlier this month, Rolls-Royce’s share price completely recovered from the tailspin President Donald Trump sent global markets into when he announced a raft of tariffs at the start of April.
The group suffered a huge slump in its share price following the US president’s so-called “liberation Day’ on 2 April.
The announced tariffs saw shares in the Derby-headquartered group fall from 779.4p on 1 April to 635.8p by the end of trading on 7 April.
While Rolls-Royce did suffer a huge fall in its share price in the wake of the tariffs announcement, their value never dipped below where they had been trading before a huge spike in value at the end of February.
That increase, sparked by encouraging financial results and a Ukraine defence summit, saw its share price rocket from 6062p to 805.2p in a matter of days.
Its share price received another boost last week as news emerged of a trade deal between the UK and the US.