Sept 3 Reuters Rolls Royce shares rose on Tuesday, as the UK engineer sought to recover from its biggest oneday drop this year following news of an engine component failure at Cathay Pacific Airways.

The Hong Kong carrier cancelled at least 34 flights on Monday and inspected its entire Airbus A350 fleet after detecting the inflight failure of an engine part.

Cathay Pacific said three of the 48 RollsRoycepowered planes it had inspected had gone through successful repairs and all of the jets were expected to resume operation by Saturday.

Rolls Royce rose over 4 in early deals in London, following a 6.5 drop the day before, while the FTSE 100 was broadly unchanged. Some analyst said Monday39;s drop was overdone.

Jefferies reaffirmed its buy rating on Rolls Royce.

While much remains to be clarified, including confirmation this affects a fuel nozzle, the 2.7 billiondrop in market cap.. implies what feels like excessive costs per aircraft, given this is likely limited the A3501000 with low part count per engine, analysts at Jefferies wrote in a note.

Airbus shares added 0.4 in Paris.

Reporting by Danilo Masoni; Editing by Amanda Cooper

Source Reuters