Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBTG Share News (BTG)

  • There is currently no data for BTG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET PRE-OPEN: Unilever, Rentokil Begin 2019 Well

Thu, 18th Apr 2019 07:41

LONDON (Alliance News) - Stocks in London are set for a muted start Thursday ahead of the Easter weekend, as largecap firms Unilever and Rentokil reported positive performance so far in 2019. IG futures indicate the FTSE 100 index to open 8.5 points lower at 7,462.82. The bluechip index closed up just 1.40 points at 7,471.32 on Wednesday."On the last trading day of the week, investors will turn their attention to PMI data releases from Europe this morning, for further cues over the health of the eurozone economy," said London Capital Group's Jasper Lawler."It's going to be interesting because there is a feeling in the markets the global economy is just starting to stabilise. Traders will pay particular attention to Germany's manufacturing sector, which suffered a sharp contraction across recent months."The services PMI and flash PMI readings from Germany are at 0830 BST, and the PMI from the eurozone at 0900 BST, with UK retail sales numbers at 0930 BST.In the afternoon there are US retail sales at 1330 BST and the US services PMI at 1445 BST.The Japanese Nikkei 225 index ended 0.8% lower Thursday. In China, the Shanghai Composite is off 0.2%, while the Hang Seng index in Hong Kong is down 0.5%.In the US on Wednesday, Wall Street ended lower, with the Dow Jones Industrial Average closing marginally down, the S&P 500 down 0.2%, and the Nasdaq Composite down 0.1%.On the London Stock Exchange, consumer goods giant Unilever reported a 1.6% drop in revenue for the first quarter of 2019, though on an underlying basis, sales rose 3.1%. The fall mainly came after the sale of its Spreads business. The 3.1% underlying growth was driven by 1.2% volume growth and a 1.9% rise in prices.Underlying sales growth was particularly strong in emerging markets, Unilever said, at 5.0%, with developed markets registered 0.3% sales growth. Home Care underlying sales growth was 6.0%, Beauty & Personal Care 3.1%, and Foods & Refreshment 1.5%. Unilever will be paying a first-quarter dividend of EUR0.4104 per share, 6% higher year-on-year.It has reiterated underlying sales growth guidance for 2019 in the lower half of its usual 3% to 5% target, with its underlying operating margin still expected to improve.Pest control firm Rentokil said trading has begun well in 2019, with ongoing revenue at constant exchange rates rising 8.9%, and overall revenue rising 8.6%. Of the ongoing figure, organic growth was 4.0%.Ongoing revenue in the Pest Control unit rose 12%, and 5.0% organically, with good performance in both growth and emerging markets. Hygiene has also had a positive start to 2019, Rentokil said, with ongoing revenue up 7.2% and 4.3% organically. "We have had a good start to 2019 and I'm pleased with our performance in the first three months of this year. I am confident of another year of successful growth for the company, in line with market expectations," said Chief Executive Andy Ransom.In the FTSE 250, Moneysupermarket.com reported 19% growth in revenue for the first quarter of 2019 to GBP104.9 million, with growth 12% excluding its Decision Technologies acquisition. Within units, Insurance revenue rose 3%, Money by 9%, Home Services by 70%, and 'Other' by 80%. Home Services had an "exceptional" first quarter, Moneysupermarket.com said, and this is set to moderate in the rest of 2019. Overall, the firm is confident on 2019 expectations. Moneysupermarket.com also confirmed its previously announced GBP40 million distribution will be returned as a 7.46 pence per share final dividend. intu Properties has sold 50% of its shopping centre in Derby to Kuwait-backed Cale Street Investments for GBP186.3 million, with intu to continue managing the new joint venture. intu said the deal is part of its strategy of reducing its debt to assets ratio, and the cash will be used to pay off debt.Consumer goods firm PZ Cussons said profit for its year ending May 31 should be in line with guidance issued at the time of its interim results, without giving any further guidance.Funding Circle reported a 44% rise in first quarter loans under management, reaching GBP3.4 billion, with originations rising 23% to GBP644 million. Funding Circle said revenue growth was 40% year-on-year."The first quarter was a period where Funding Circle reinforced its leadership position across each of its markets, reaching a new high of loans under management of GBP3.4 billion," said Chief Executive Samir Desai."We continue to implement our strategy of diversifying funding sources with a new commitment from the European Investment Bank, as well as launching two new institutional investor products."Healthcare firm BTG said product sales for the 12 months to March have come in at the upper end of expectations, with oncology and vascular sales growth within guidance of 15% to 17%. Pharmaceuticals has achieved double-digit growth, ahead of guidance, with DigiFab registering "unusually" high sales. Cybersecurity firm Avast reported a 6.7% rise in adjusted revenue for the first quarter, excluding currency movements, to USD211.8 million, with adjusted earnings before interest, taxes, depreciation, and amortisation up 5.4% to USD117.5 million. Avast has started 2019 well, it said, with a strong first quarter performance, and it has reaffirmed annual guidance for high single-digit adjusted revenue growth and a broadly flat Ebitda margin. AVEVA reported low double-digit revenue growth for its year ended March 31, with positive performance reported in the first nine months continuing into the last quarter.Full year operating margins have improved, despite the extra costs due to growing revenue as well as investment, and AVEVA expects further progress in its new financial year.

More News
8 Sep 2020 13:34

Tuesday broker round-up

(Sharecast News) - Hargreaves Lansdown: Berenberg upgrades to buy with a target price of 1,915.0p.

Read more
24 Aug 2020 10:57

Monday broker round-up

(Sharecast News) - Dechra Pharmaceuticals: Liberum initiates at sell with a target price of 2,740p.

Read more
20 May 2020 13:56

Wednesday broker round-up

(Sharecast News) - Great Portland Estates: Peel Hunt downgrades to reduce with a target price of 630p.

Read more
18 Feb 2020 13:26

Tuesday broker round up

(Sharecast News) - Severn Trent: JP Morgan upgrades to neutral with a target price of 2,550p.

Read more
18 Feb 2020 10:50

BT set to scrap pay-TV packages and offer monthly prime subscriptions

(Sharecast News) - Broadcaster BT is set to scrap pay-TV packages for monthly prime content subscriptions, granting the flexibility that other streaming services offer.

Read more
5 Feb 2020 13:17

Wednesday broker round-up

(Sharecast News) - Antofagasta: Deutsche Bank upgrades to hold with a target price of 850p.

Read more
31 Jan 2020 12:55

Friday broker round-up

(Sharecast News) - Hargreaves Lansdown: Liberum upgrades to buy with a target price of 2,125p.

Read more
15 Aug 2019 15:58

High Court Of Justice Sanctions BTG Takeover By Boston Scientific

(Alliance News) - Healthcare company BTG PLC on Thursday said the High Court of Justice in England and Wales made an order sanctioning its takeover by Bravo Bidco Ltd.In November, US Boston

Read more
2 Jul 2019 10:07

BTG Bidder Boston Scientific Sells Embolic Microsphere Business

(Alliance News) - BTG PLC on Thursday said Boston Scientific Corp has agreed to sell an existing business to Varian Medical Systems Inc.The deal is subject to the GBP3.3 billion acquisition

Read more
12 Jun 2019 12:35

TT Electronics Hires Ex-Exova Finance Chief Thorburn Non-Exec Director

(Alliance News) - TT Electronics PLC said Wednesday it hired Anne Thorburn as non-executive director of the electrical engineer from the start of July.Thorburn currently serves as at PLC at

Read more
18 Apr 2019 08:46

BTG Product Sales At Upper End Of Board Forecasts Before Acquisition

LONDON (Alliance News) - Healthcare company BTG PLC on Thursday said product sales were at the upper end of board expectations for its recently ended year.BTG also expects its acquisition a

Read more
18 Apr 2019 08:20

BTG reports full year product sales ahead of guidance

(Sharecast News) - International healthcare company BTG on Thursday said full year product sales were at the upper end of expectations, with pharmaceuticals delivering double-digit growth, ahead of guidance.

Read more
28 Feb 2019 18:01

Boston Scientific Gets Green Light For BTG Purchase At Court Meeting

LONDON (Alliance News) - BTG PLC on Thursday said a takeover offer by Bravo Bidco Ltd, a subsidiary of Boston Scientific Corp, was approved at the Court meeting and its own general November, US to

Read more
21 Feb 2019 16:23

UK Shareholder Meetings Calendar - Next 7 Days

Friday 22 FebruaryAPC TechnologyMonday 25 FebruaryGreencoat UK Wind (re issue of new

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.