Rolls Royce big riser on FTSE after raising guidance

Rolls Royce is one of the FTSE100's biggest risers this morning, after it raised its guidance in Defence Aerospace but lowered it for its Marine division. In the former, it expects to see modest growth, but the latter's underlying profit is predicted "broadly flat" for the full year. (Release)

The jet company is one of three aviation groups at the top of the FTSE100's biggest risers, along with International Consolidated Airlines and EasyJet.

Rolls Royce received a cash consideration of €293m (£244m), not included in its guidance, for the sale of its 50 per cent shareholding and interest in a helicopter engine programme to Turbomeca, a Safran company.

It also has announced this morning that it's appointed two new directors: Warren East, former chief executive of ARM Holdings and Lee Hsien Yang, who already on the advisory board. East is joining as non-executive director and chairman of the audit committee, whilst Yang is joining the main board as a non-executive.