Shares in Rolls-Royce have reached a new all-time high, bringing the FTSE 100 giant closer to a valuation of £70bn.
The Derby-based group concluded trading on Thursday, 15 May, with a share price of 816p, 4p higher than its previous record set on 19 March, as reported by .
This resulted in Rolls-Royce ending the day with a market capitalisation of £69.1bn, the highest in its history. This milestone follows City AM's report earlier this week that the group's shares had surpassed the 800p mark for only the fourth time.
Rolls-Royce first exceeded 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 heavyweight experienced a slump in its share price to 635p following US President Donald Trump's tariff announcement at the beginning of 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 and has now reached its latest landmark.
Rolls-Royce nears £70bn landmark
Earlier this month, Rolls-Royce's share price fully recovered from the downturn triggered by President Donald Trump's announcement of a series of tariffs at the start of April.
The group which has sites in Bristol, suffered a significant drop in its share price following the US president's so-called "liberation Day' on 2 April.
The announced tariffs led to a drop in shares, falling from 779.4p on 1 April to 635.8p by the close of trading on 7 April. Despite a significant decrease in its share price following the tariff announcement, Rolls-Royce's value never fell below its pre-spike level at the end of February.
This surge, triggered by promising financial results and a Ukraine defence summit, saw its share price soar from 6062p to 805.2p within days. The company's share price received another lift last week when news broke of a trade agreement between the º£½ÇÊÓƵ and the US.
