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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UK earnings, trading statements calendar - next 7 days
Friday 1 September | |
Diversified Energy Co PLC | Half Year Results |
Monday 4 September | |
Ashtead Technology Holdings PLC | Half Year Results |
Belvoir Group PLC | Half Year Results |
Tuesday 5 September | |
Alumasc Group PLC | Full Year Results |
Ashtead Group PLC | Q1 Results |
Blackbird PLC | Half Year Results |
Craneware PLC | Full Year Results |
DS Smith PLC | Trading Statement |
Ecora Resources PLC | Half Year Results |
Eurocell PLC | Half Year Results |
Gamma Communications PLC | Half Year Results |
GetBusy PLC | Half Year Results |
Headlam Group PLC | Half Year Results |
Johnson Service Group PLC | Half Year Results |
Luceco PLC | Half Year Results |
Michelmersh Brick Holdings PLC | Half Year Results |
Midwich Group PLC | Half Year Results |
Pebble Group PLC | Half Year Results |
Shearwater Group PLC | Full Year Results |
SigmaRoc PLC | Half Year Results |
STV Group PLC | Half Year Results |
Tissue Regenix Group PLC | Half Year Results |
Wednesday 6 September | |
Apax Global Alpha Ltd | Half Year Results |
Ashmore Group PLC | Full Year Results |
Bakkavor Group PLC | Half Year Results |
Barratt Developments PLC | Full Year Results |
Darktrace PLC | Full Year Results |
Halfords Group PLC | Trading Statement |
Hochschild Mining PLC | Half Year Results |
M Winkworth PLC | Half Year Results |
Malin Corp PLC | Half Year Results |
Nexteq PLC | Half Year Results |
Oxford Nanopore Technologies PLC | Half Year Results |
Restaurant Group PLC | Half Year Results |
WH Smith PLC | Trading Statement |
Thursday 7 September | |
Angle PLC | Half Year Results |
Beazley PLC | Half Year Results |
Cairn Homes PLC | Half Year Results |
Currys PLC | Trading Statement |
Direct Line Insurance Group PLC | Half Year Results |
Energean PLC | Half Year Results |
Funding Circle Holdings PLC | Half Year Results |
Genus PLC | Full Year Results |
Hilton Food Group PLC | Half Year Results |
Inspecs Group PLC | Half Year Results |
International Public Partnerships Ltd | Half Year Results |
Lords Group Trading PLC | Half Year Results |
Melrose Industries PLC | Half Year Results |
Mpac Group PLC | Half Year Results |
Playtech PLC | Half Year Results |
Polarean Imaging PLC | Half Year Results |
Safestore Holdings PLC | Trading Statement |
Synthomer PLC | Half Year Results |
Vistry Group PLC | Half Year Results |
WAG Payment Solutions PLC | Half Year Results |
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