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Pin to quick picksCroda International Share News (CRDA)

Share Price Information for Croda International (CRDA)

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Share Price: 4,877.00
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Ask: 4,881.00
Change: 14.00 (0.29%)
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Top picks for the circular economy transition

Mon, 23rd Jan 2023 12:55

STOXX 600 up 0.3%

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Tech leads gainers

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Most Asian markets shut

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U.S. stock futures edge higher

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at

TOP PICKS FOR THE CIRCULAR ECONOMY TRANSITION (1245 GMT)

The circular economy, which strives for an increased recycling rate, is gaining recognition in Europe, but this means corporates will have to adapt to growing number of new rules.

The task will not be easy especially for the packaging, plastic and chemical sectors but Berenberg believes a number of companies look well equipped to help drive the transition to more sustainable business practices.

In a deep-dive note on the circular economy, analysts at the German bank single out the potential winners of these changes - be it upcoming legislation on single-use plastic bans, new packaging rules and pressure to ban certain chemicals.

Its buy-rated circular economy top picks include Germany's Befesa, which recycles steel dust and aluminium residues, and French waste management group Veolia.

Also featuring are biotech firm AFYREN, software maker Autodesk, R&D firm Avantium, equipment maker Bucher, materials company Coats, consumer care company Croda, packager DS Smith, services provider Elis, metals processing company Jubilee Metals, and equipment maker Marel.

(Boleslaw Lasocki)

ECB NEEDS MORE THAN SOFTER HEADLINE INFLATION TO PIVOT - UBS(1147 GMT)

The fall in euro zone inflation in December is not enough to warrant the ECB changing tack, UBS economists say.

Brushing off recent press reports of a potential 25-bps hike from the ECB at its March meeting, the economists expect two back-to-back 50-bp increases from the ECB in February and March.

Their view is supported by comments from ECB governing council member Klaas Knot, who on Sunday said he expects the central bank's main interest rate to rise 50 bps in both February and March and to keep climbing after that.

An improvement in the broader inflation environment, not just headline numbers, is needed for a central bank pivot, UBS said. That would include "measures of core inflation, underlying inflation, inflation expectations, and wage dynamics".

Lower energy prices were behind December's fall in headline inflation to 9.2%, from October's peak at 10.6%. But core inflation kept rising, hitting 5.2%.

Other metrics, such as inflation expectations surveys, also provided little relief.

"...the ECB’s surveys of professional forecasters (SPF) and of monetary analysts (SMA), as well as market-based inflation expectations (5y5y forwards), have on balance moved marginally higher and remain above the ECB target," the note reads.

The UBS economists also flag the potential for "pro-inflationary second-round effects" as euro zone nominal wage growth continues to pick up.

They expect a further decline of 0.2% in headline inflation in January, taking it to 9%, and a decline in core inflation to 5% from 5.2%.

January inflation data is due on February 1.

TECH LEADS, FRESH HIGHS FOR FINANCIALS (0900 GMT)

Hawkish ECB speak at the weekend and the late tech-led rally on Wall Street on Friday are giving shape to today's open across European equity markets, pushing financials to fresh highs and making tech the best sectoral performer.

The STOXX Europe Tech index recovered part of Thursday's slump to gain more than 1%, banks and insurance stocks - which benefit from rising interest rates - both rose to fresh 11-month highs before retracing.

Aerospace and defence stocks hit a fresh near 3-year peak, just shy of the pre-COVID levels of 2020 and were last little changed. The broader STOXX 600 benchmark index was up by 0.2%, still below the April 2022 peak hit last week.

Here's your opening snapshot:

EUROPEAN STOCK FUTURES EDGE HIGHER (0738 GMT)

European shares look set to start the final full week of January on a good footing, with EuroSTOXX50 index futures rising around 0.5%, even as the euro touches its highest since April 2022 against the dollar.

Hawkish weekend comments from ECB governing council member Klaas Knot are keeping the currency supported and later in the day the focus will shift to ECB President Christine Lagarde.

Most Asian markets were closed for Lunar New Year, while U.S. futures pointed to a muted start on Wall Street following Friday's rally that pushed the tech-heavy Nasdaq up 2.7%, its biggest one-day gain since November, up 2.7%.

In European corporate news, steep falls are expected for Symrise after the flavour and fragrance maker warned its 2022 results will miss expectations due to an impairment.

In the UK, Dignity is set to rally on news of an takeover offer that values the funeral services provider at a 9.9% premium to Friday's closing price.

EURO RISING (0649 GMT)

It's been a quiet start to the week in Asia with much of the region on holiday. U.S. stocks futures are near flat, but EUROSTOXX futures added 0.5% to extend their recent bullish run.

Presumably much of that is due to the 60% drop in European gas prices since December and relief that the worst fears of an energy crunch have not come about, even if it has turned a bit colder in recent days.

Analysts assume the same sea change will deliver an improvement in the EU flash PMIs for January this week, likely outperforming the U.S. surveys.

This has combined with some hawkish words from ECB Governing Council member Knot to lift the euro to a fresh nine-month high at $1.0903 and challenge the April spike top at $1.0936.

Knot is considered a card-carrying member of the ECB hawk club, which was clearly irked by recent reports that the central bank might step down to quarter-point hikes in March.

The latest Reuters poll of analysts tips hikes of 50 basis points in both February and March and a peak of 3.25%, while the Fed is now thought certain to go by 25 basis points next week.

Minutes on Monday of the Bank of Japan's December meeting, where they shocked markets by widening the yield curve band, were striking in how dovish board members still were. The move really was aimed at dysfunction in the bond market and was not a flag of future tightening or dropping YCC altogether.

Members were keen that the BOJ explain to markets that the change was not a step toward an exit from policy easing, something it clearly failed at in the official statement.

Indeed, most of the discussion was about the importance of maintaining stimulus, a stance Governor Kuroda repeated more forcibly after last week's meeting.

Going by all this, if YCC is to change it will likely be under the new governor in April, and it is not clear the whole board would agree with it.

Key developments that could influence markets on Monday:

- ECB's Lagarde and Panetta are appearing

- No major economic data due on Monday. Around a quarter of the S&P 500 report this week starting with Microsoft on Tuesday.

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24 Apr 2024 11:55

LONDON MARKET MIDDAY: Investors shake off pre-US inflation nerves

(Alliance News) - The FTSE 100 in London was higher at midday on Wednesday, as investors look ahead to the US Federal Reserve's next test on Friday.

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24 Apr 2024 07:50

Croda backs FY profit guidance even as Q1 sales decline

(Sharecast News) - Croda backed its full-year profit guidance on Wednesday despite a decline in first-quarter sales, as it hailed an "encouraging" start to the year for the consumer care business.

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24 Apr 2024 07:42

LONDON BRIEFING: Lloyds profit takes hit; Jet2 cuts guidance

(Alliance News) - Stocks in London are set to open higher on Wednesday, as the release of some key US data edges closer

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17 Apr 2024 13:59

UK shareholder meetings calendar - next 7 days

Thursday 18 April 
Aquis Exchange PLCAGM
FW Thorpe PLCGM re executive share ownership plan
Harmony Energy Income Trust PLCAGM
Polar Capital Global Financials Trust PLCAGM
Segro PLCAGM
Team Internet Group PLCAGM
Friday 19 April 
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Monday 22 April 
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Tuesday 23 April 
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NatWest Group PLCAGM
Taylor Wimpey PLCAGM
Wednesday 24 April 
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abrdn Equity Income Trust PLCAGM
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Breedon Group PLCAGM
British American Tobacco PLCAGM
Bunzl PLCAGM
Coro Energy PLCAGM
Croda International PLCAGM
Entain PLCAGM
Greencoat UK Wind PLCAGM
Primary Health Properties PLCAGM
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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11 Apr 2024 15:09

UK dividends calendar - next 7 days

Friday 12 April 
abrdn UK Smaller Cos Growth Trust PLCdividend payment date
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Galliford Try Holdings PLCdividend payment date
Goodwin PLCdividend payment date
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Idox PLCdividend payment date
Lancashire Holdings Ltdspecial dividend payment date
Land Securities Group PLCdividend payment date
LPA Group PLCdividend payment date
Tristel PLCdividend payment date
Monday 15 April 
Craneware PLC 
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Tuesday 16 April 
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Personal Assets Trust PLCdividend payment date
Wednesday 17 April 
CRH PLCdividend payment date
Diageo PLCdividend payment date
Ithaca Energy PLCdividend payment date
Thursday 18 April 
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BAE Systems PLCex-dividend payment date
Baillie Gifford Shin Nippon PLCex-dividend payment date
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Capital Ltdex-dividend payment date
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Croda International PLCex-dividend payment date
DFS Furniture PLCex-dividend payment date
Dowlais Group PLCex-dividend payment date
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Fresnillo PLCex-dividend payment date
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JPMorgan American Investment Trust PLCex-dividend payment date
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Nippon Active Value Fund PLCex-dividend payment date
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Quilter PLCex-dividend payment date
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Serco Group PLCex-dividend payment date
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Comments and questions to newsroom@alliancenews.com
  
A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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LONDON BROKER RATINGS: Wizz Air raised; HSBC cuts Rentokil to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

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26 Mar 2024 09:40

LONDON BROKER RATINGS: Dr Martens cut to 'sell'; BofA likes Tullow

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LONDON BROKER RATINGS: Berenberg, JPMorgan raise price target for IHG

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LONDON MARKET CLOSE: FTSE 100 lags European peers amid weaker US data

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London close: Stocks little changed as investors look to US data

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27 Feb 2024 11:53

LONDON MARKET MIDDAY: FTSE 100 falters; eyes on US data

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27 Feb 2024 08:42

TOP NEWS: Croda says recovery difficult to predict as profit slumps

(Alliance News) - Croda International PLC on Tuesday reported a hefty drop in annual profitability, amid weaker sales, and it warned of further weakness in 2024.

Read more
27 Feb 2024 07:45

LONDON BRIEFING: Croda profit slumps amid weak market, destocking

(Alliance News) - Stocks in London are called lower on Tuesday, following some weakness on Wall Street ahead of the week's US economic data.

Read more
27 Feb 2024 07:02

Croda warns on margins as profits slump on weak demand

(Sharecast News) - British speciality chemicals maker Croda International on Tuesday warned of lower operating margins this year after posting a slump in 2023 profits due to customers destocking and a weak macroeconomic environment.

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