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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.

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30 Jan 2019 17:40

Pentwater Acquires Stake In BTG As Invesco Reduces 16% Holding (ALLISS)

LONDON (Alliance News) - BTG PLC on Wednesday said that investment manager Invesco reduced its stake in the FTSE 250-listed healthcare firm on Tuesday to 7.96% from 15.99%.On the same day,

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17 Jan 2019 14:29

BTG Enters Second Non-Disclosure Agreement With Boston Scientific

LONDON (Alliance News) - BTG PLC said Thursday it has entered into a second non-disclosure agreement with US medical manufacturing giant Boston Scientific Corp.BTG said the agreement the of

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12 Dec 2018 09:21

BTG and Boston Scientific extend acquisition deal regulatory dates

(Sharecast News) - BTG announced on Wednesday that itself, its suitor Boston Scientific, and the acquisition vehicle Bravo Bidco, have entered into an amendment to the co-operation agreement to extend the date by which certain regulatory filings must be made in Spain, Germany and other relevant jurisdictions.

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7 Dec 2018 17:36

Two Companies Modify Healthcare Company BTG Stake After Deals (ALLISS)

LONDON (Alliance News) - BTG PLC on Friday said that two companies modified their holdings in the healthcare firm.Woodford Investment Management Ltd lowered its stake to less than 5% from a

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30 Nov 2018 12:55

Friday broker round-up

(Sharecast News) - BTG: Jefferies downgrades to hold with a target price of 840p.

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30 Nov 2018 10:35

Jefferies cuts BTG as shares within 2% of Boston Scientific offer

(Sharecast News) - Jefferies downgraded BTG to 'hold' from 'buy' on Friday, cutting the price target to 840p from 900p following its agreement to be bought by US medical device maker Boston Scientific earlier this month.

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20 Nov 2018 16:57

LONDON MARKET CLOSE: FTSE 100 Slips Back Below 7,000 In Risk-Off Trade

LONDON (Alliance News) - Stocks in London finished lower on Tuesday, with London's FTSE 100 index slipping back below the 7,000 mark, as a US-China trade war flare-up and Brexit uncertainties

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20 Nov 2018 11:08

WINNERS & LOSERS SUMMARY: BTG Jumps 34% Purchase By Boston Scientific

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - up 3.1%. The safety and environmental firm a

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20 Nov 2018 09:31

TOP NEWS: Boston Scientific To Acquire BTG For GBP3.3 Billion In Cash

LONDON (Alliance News) - US medical devices manufacturer Boston Scientific Corp said Tuesday it has agreed to acquire UK rival BTG PLC for GBP3.3 billion.Under the terms of the acquisition

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20 Nov 2018 09:01

BTG rockets on Boston Scientific deal

(Sharecast News) - Shares in specialist healthcare company BTG rocketed on Tuesday as it agreed to be bought by US-based Boston Scientific for £3.3bn.

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6 Nov 2018 15:59

UK Earnings, Trading Statements Calendar - Next 7 Days

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25 Oct 2018 14:31

FTSE 250 movers: Just Group soars on regulatory news as Hastings crashes

(Sharecast News) - London's FTSE 250 was down 0.22% to 18,447.42 in afternoon trade on Thursday, as Just Group and Kaz Minerals led the gains.

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4 Oct 2018 13:29

Thursday broker round-up

(Sharecast News) - accesso: Canaccord downgrades to hold with a target price of 3,000p.

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4 Oct 2018 10:37

WINNERS & LOSERS SUMMARY: Ted Baker Hurt By House Of Fraser Collapse

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - WINNERS----------Associated -

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4 Oct 2018 08:52

LONDON MARKET OPEN: Ted Baker Drops On Challenging Trading Conditions

LONDON (Alliance News) - Stocks in London opened lower on Thursday tracking Asian markets lower, while Ted Baker shares sank after the fashion retailer fell victim to challenging market FTSE 100 was

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