Rolls-Royce Holdings

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As of 00:43 20 Jan 2019
Market cap. Pound sterling
16,970.40 million
As of 07:02 20 Jan 2019

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Rolls-Royce rallies

Rolls Royce worker
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Shares in Rolls-Royce are up nearly 5% after it said its annual profits would be in the "upper half" of its guidance.

There was a Brexit update too. The Derby-based company said it was talking to the European Safety Aviation Agency over shifting design approval for large engines to Germany.

This was a "precautionary and reversible technical action".

The ferry using Rolls-Royce technology that sails itself
Sensors and cameras help this ferry in Finland navigate independently and it can even dock itself.

'We're still stockpiling parts'

Today Programme

BBC Radio 4

Rolls-Royce chief executive Warren East

Warren East, chief executive of engineering giant Rolls-Royce, says he is no more certain about the current political situation and how it will affect businesses, than he was before the Brexit draft withdrawal agreement was approved by the cabinet.

Therefore, Rolls-Royce is continuing with contingency plans such as stockpiling parts.

"It's only a draft and there's a lot of steps to go between now and when we're done, and we can't guarantee anything of this, but I do have to guarantee that we can continue doing our business after 29 March next year," he tells the Today programme.

We are running out of time, says Rolls-Royce boss

Rolls-Royce factory worker
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The boss of engineering giant Rolls-Royce says politicians must get behind a "practical plan" for Brexit

Warren East said time was running out, and that any deal was better than leaving the EU without an agreement.

Mr East joined other business leaders in backing the draft plan put forward by the Prime Minister on Wednesday.

"The time since the referendum seems to have gone remarkably quickly and we're essentially [still] having a discussion we could have had the morning after the referendum," he said.

"We are slightly running out of time and I would, as a business leader, like to see politicians on both sides of the fence get on and negotiate a practical deal that works for business."

Rolls: 'work very closely' with Airbus

an engine

More on Rolls-Royce.

The company's statement to the stock exchange sets out that it is working with customers affected by the delays to its Trent 7000 engines.

"We continue to work very closely with Airbus and our customers on the details of the delivery schedule. While the production ramp up issues in [the fourth quarter] are regrettable, such issues in the early stages of a new engine program are not uncommon in our industry.

As we move into 2019 we are confident that Trent 7000 production and delivery volumes will increase significantly to meet our customer commitments".

Engine trouble

Getty Images

Shares in Rolls-Royce are still down more than 4% but have recovered ground during the day.

They were off 13% earlier after Bloomberg reported there had been delays to its engine production for an Airbus jet.

The company later issued a statement to the stock exchange in which it said would deliver fewer engines than planned.

"We are likely to fall short of our prior engine delivery projection of approximately 550 large engine deliveries for 2018, and are now expecting to deliver approximately 500 engines," Rolls-Royce said.

Airbus had been expecting 30 of them for its A330neo plane.

Airbus shares are off almost 3%.

Rolls Royce shares tumble on Airbus delays

Rolls-Royce engine on a commercial jet
Getty Images

Shares in Rolls-Royce have dropped as much as 13% today after Bloomberg reported that there were delays to its engine production for the Airbus A330neo jet.

Shares are now down 6% to £820.40.

FTSE 100 extends fall

RSA Insurance has extended its losses and it continues to lead the FTSE 100 fallers, down 9.56% at 573.3p after it said full-year underlying profit would be less than expected.

The blue chip index has also fallen further, down 0.74% at 7,489.71.

Engine-maker Roll-Royce is now leading the FTSE 100 risers, up 2.8% at 993.1p.

Outsourcing specialist Serco is the FTSE 250's largest riser, up 13.25% at 100p while Games Workshop is down 5.82% at £37.25.

Rolls-Royce shares dip on engine incident

Rolls Royce Trent 1000
Getty Images

Shares in engineering firm Rolls-Royce are down more than 2%.

It follows the in-flight shutdown of a Rolls-Royce engine on an Iberia flight between New York and Madrid.

The pilot made an emergency landing in Boston. The engine affected was a Trent XWB model.

The incident made traders twitchy as Rolls has been dealing with an expensive problem with its Trent 1000 range of engines (pictured).

But the company said the XWB was based on "a different architecture.