Rolls-Royce (LON:RR.) drops after oil shock ahead of July results
Rolls-Royce shares dropped 3.34% to finish at 1,399.40p, almost matching the low of the day at 1,387.60p. The FTSE 100 was down 1.66%. Volume hit 15.62 million, or 48% of the 65-day average. No company news drove the stock down—this was the market handing back gains on a stock that had priced in good news. Weak tape, but not panic selling. Stocks sold off across the UK on Wednesday after U.S. President Donald Trump said a first deal to end the conflict with Iran was “over,” Reuters reported. Defence names pulled the FTSE 100 lower, but BP p.l.c. and Shell plc climbed as oil prices rallied. For Rolls-Royce, that put it in a tough spot: pricier oil squeezes airlines, but
