London, February 2, 2026, 08:25 (GMT) — Regular session.
- Rolls-Royce shares dip early Monday after a choppy open.
- Global “risk-off” trading spreads from commodities into broader markets.
- Buyback runs into late February; full-year results due February 26.
Rolls-Royce Holdings plc shares edged lower in early trading on Monday, tracking a cautious start to the week in global markets. The stock was down 0.6% at 1,203.5 pence on the London Stock Exchange, after trading between 1,191.0 and 1,204.6 pence, with about 697,000 shares changing hands. (Investing)
The move matters because the share price sits not far from recent highs and the next big test is close. A lot of positioning has been built around strong momentum in “risk” assets, and that trade is getting shaken.
It also lands in a narrow window ahead of the company’s full-year update later this month, when investors will look for any shift in guidance and fresh detail on shareholder returns.
The broader backdrop is messy. Commodities slid hard on Monday, extending a selloff that followed the selection of Kevin Warsh as the next chair of the Federal Reserve, and traders pointed to forced selling after CME Group raised margin requirements — the cash traders must post to hold futures positions. “The decision … suggests investors view Warsh as more hawkish,” Vivek Dhar at Commonwealth Bank of Australia said. (Reuters)
Market talk turned quickly to de-leveraging, the process of cutting borrowed exposure. “It’s risk off and de-leveraging,” said Christopher Forbes, head of Asia and Middle East at CMC Markets, in a note on the broader selloff. (Reuters)
Rolls-Royce also started the week with fresh headlines around its nuclear ambitions. The Telegraph reported the company had halted a taxpayer-backed plan to put a mini nuclear reactor on the Moon, citing a lack of partners, with the project backed by the UK Space Agency and government funding, according to the report. Rolls-Royce did not immediately respond to a request for comment, the report said. (mint)
The company, meanwhile, is running an interim share buyback — a programme where it repurchases its own shares and cancels them, reducing share count. Rolls-Royce said in December it would repurchase up to £200 million of stock between January 2 and no later than February 24 under a non-discretionary agreement with UBS AG London Branch, and said the total buyback “quantum” for 2026 would be reviewed by the board and is expected to be announced with the full-year results. (Investegate)
Buybacks can put a floor under a stock on bad days, but they do not stop bigger flows. If the forced selling spilling out of commodities deepens, or if volatility triggers more margin-driven liquidation, even defensive parts of the market can get dragged around.
Next up is the company’s 2025 full-year results on February 26. Investors will be watching for any change in outlook and an update on the size of 2026 buybacks. (Rolls Royce)
