Rolls-Royce is now valued at over £70bn as shares in the FTSE 100 behemoth continue their impressive recovery.
The Derby-based group's shares closed on Thursday, 22 May, priced at 839p, resulting in a market capitalisation of £71bn, as reported by .
This marks the first time in Rolls-Royce's history that it has exceeded a £70bn valuation, coming a week after its shares surpassed their previous peak.
On Thursday, 15 May, shares in the FTSE 100 group were trading at 816p, 4p higher than its previous record set on 19 March.
City AM reported earlier this week that the group's shares had crossed the 800p mark for only the fourth time. The aerospace giant, which has major º£½ÇÊÓƵ sites in Bristol and Derby, first breached the 800p mark on 5 March before the fluctuations of the London Stock Exchange saw it do so twice more in the subsequent weeks.
However, the FTSE 100 giant experienced a slump in its share price to 635p following US President Donald Trump's tariff announcement in early April, erasing around £10bn from Rolls-Royce's valuation. But since hitting its low point on 7 April, the group's share price has been steadily rebounding.
FTSE heads for fifth consecutive week of gains
The FTSE is heading for its fifth consecutive week of gains, as Rolls-Royce reaches its latest milestone and the London Stock Exchange continues its recent winning streak.
Derren Nathan, head of equity research at Hargreaves Lansdown, stated: "The Footsie has that Friday feeling and looks set to end the week in an upbeat fashion, rising nearly 30 points at the open after some profit-taking yesterday.
"Despite ongoing worries about both the domestic and global economy, the index is set to close out five weeks of gains and remains in striking distance of all-time highs."
Rolls-Royce's share prices on the up and up
Earlier in April, Rolls-Royce's share price fully rebounded from the nosedive caused by President Donald Trump's announcement of a series of tariffs, which initially sent global markets into turmoil.
Following the US president's announcement on what he dubbed "Liberation Day" on 2 April, the firm saw its share price plummet.
The imposition of the tariffs led to shares in the Derby-based group dropping from 779.4p on 1 April to 635.8p by the end of trading on 7 April.
While Rolls-Royce did experience a significant decrease in its share value consequent to the tariff announcement, the shares never fell below their pre-surge levels seen prior to the end of February.
A substantial increase, driven by positive financial results and a defence summit in Ukraine, shot the share price up from 606.2p to 805.2p in just a few days.
