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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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4 Oct 2018 08:29

BTG Upgrades Annual Targets After Strong Interims, Chairman Retires

LONDON (Alliance News) - Healthcare company BTG PLC on Thursday upped its guidance for its current financial year as well as announced the retirement of Chairman Garry Watts.BTG said it has

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4 Oct 2018 07:36

BTG upgrades sales forecasts on back of strong oncology, vascular portfolio

(Sharecast News) - Healthcare company BTG said it had delivered good first half sales growth, driven by the performance of its interventional medicine business as it upgraded its full year sales growth forecast in its oncology and vascular portfolio to 15-17%.

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25 Sep 2018 12:57

Tuesday broker round-up

(Sharecast News) - Wetherspoons: Peel Hunt downgrades to hold with a target price of 1,325p.

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17 Sep 2018 15:10

Monday broker round-up

(Sharecast News) - Sophos: Deutsche Bank downgrades to hold with a target price of 530p.

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7 Sep 2018 07:53

BTG Buys Medical Device Outfit Novate Medical For Up To USD20 Million

LONDON (Alliance News) - FTSE 250-listed healthcare group BTG PLC said on Monday it has acquired medical device company Novate Medical Ltd for USD20 million in cash.BTG said it may be to of

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7 Sep 2018 07:04

BTG to buy Novate for up to $130m

(Sharecast News) - Healthcare company BTG on Friday said it was paying up to $130m in cash to buy Ireland-based Novate, which specialises in the prevention of pulmonary embolism (PE) in patients at high risk of venous thromboembolic events.

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9 Aug 2018 09:04

BTG's emphysema treatment struck down by FDA

(Sharecast News) - Global specialist healthcare company BTG on Thursday received confirmation from the US food and drug administration (FDA) that its emphysema treatment will not receive pre-market approval.

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9 Aug 2018 09:04

BTG's emphysema treatment struck down by FDA

(Sharecast News) - Global specialist healthcare company BTG on Thursday received confirmation from the US food and drug administration (FDA) that its emphysema treatment will not receive pre-market approval.

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9 Aug 2018 08:44

LONDON MARKET OPEN: Stocks Down As TUI, Randgold And Evraz Disapppoint

LONDON (Alliance News) - Stock prices in London were lower on Thursday, despite having been pointed to a higher open, with company results dragging down both the FTSE 100 and FTSE 250 indices, while

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23 Jul 2018 16:08

DIRECTOR DEALINGS: BTG Non-Exec Director Buys Shares For GBP74,850

LONDON (Alliance News) - BTG PLC said Monday that Non-Executive Director Anne Thorburn bought 15,000 shares in the healthcare company.Thorburn acquired the shares at 499.81 pence each in a

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15 Jun 2018 10:56

WINNERS & LOSERS SUMMARY: Rolls Royce Soars On Cash Flow Guidance

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15 Jun 2018 08:52

LONDON MARKET OPEN: FTSE Flat As China Promises To Retaliate On Trade

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15 Jun 2018 08:15

TOP NEWS: BTG Fails To Gain FDA Panel Support For Emphysema Treatment

LONDON (Alliance News) - BTG PLC said Friday that the Anesthesiology & Respiratory Therapy Devices Panel of the Medical Devices Advisory Committee of the US Food & Drug Administration has

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15 Jun 2018 07:37

LONDON MARKET PRE-OPEN: Tesco Has Strong Quarter; BTG Suffers Setback

LONDON (Alliance News) - Stock prices in London are seen opening marginally higher on Friday amid weakness in the pound, as Tesco delivered a strong first-quarter performance buoyed

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18 May 2018 17:06

LONDON MARKET CLOSE: FTSE 100 Posts Eighth Weekly Gain; Glencore Slips

LONDON (Alliance News) - Despite a pullback on Friday preventing the FTSE 100 posting a new all-time high, the index nonetheless managed to end higher for its eighth consecutive week.Ending lower on

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