Rolls-Royce trades close to highs as buyback leeway narrows ahead of July earnings
Rolls-Royce Holdings plc goes into its July results with a clear share buyback figure on the books. By looking at daily data in its July 1 filing, the company bought 4,007,376 shares between June 23 and June 29 at an average price of about 1,409p, or around £56.5 million. Shares traded near 1,455p on Thursday morning, so that means last week's buys were roughly 3.3% under the market price. Rolls-Royce’s buyback gap has widened. The company said it has bought 74,601,999 shares so far in its active programme at a weighted average price of 1,212.92p. That price is almost 20% under Thursday’s level, and the buybacks total about £905 million, or 39% of the £2.3 billion programme outlined in its