Last checked at 
(Alliance News) - Reckitt Benckiser said Tuesday it is on track for "low double-digit like-for-like net revenue growth for the full year", as it continued to enjoy a boost in demand during the third-quarter.
The household goods firm behind cleaning products such as Dettol and Cillit Bang, has seen sales of its disinfectants rise due to the new coronavirus pandemic.
In the third quarter, total sales climbed 6.3% to GBP3.51 billion, or 13% on a like-for-like basis.
Total Hygiene sales were 12% higher, jumping 20% like-for-like. This was "driven by Finish and Air Wick", RB explained.
Health sales rose 6.9%, or 12% like-for-like, amid "ongoing strong demand for Dettol".
Reckitt shares were up 1.8% early Tuesday.
Here is what you need to know at the London market open:
----------
MARKETS
----------
FTSE 100: down 0.2% at 5,873.50
----------
Hang Seng: marginally lower at 24,539.41
Nikkei 225: closed down 0.4% at 23,567.04
DJIA: closed down 410.89 points, 1.4%, at 28,195.42
S&P 500: closed down 1.6% at 3,426.92
----------
GBP: down at USD1.2942 (USD1.3000)
EUR: down at USD1.1773 (USD1.1785)
Gold: down at USD1,903.11 per ounce (USD1,908.70)
Oil (Brent): down at USD42.46 a barrel (USD42.92)
(changes since previous London equities close)
----------
ECONOMICS AND GENERAL
----------
Tuesday's Key Economic Events still to come
1000 CEST EU euro area balance of payments
0830 EDT US housing starts and building permits
1630 EDT US API weekly statistical bulletin
----------
UK Prime Minister Boris Johnson is preparing to impose stringent new coronavirus controls on 2.8 million people in Greater Manchester after talks with local leaders failed to reach agreement, PA reports. Communities Secretary Robert Jenrick warned civic chiefs on Monday night that they have until midday on Tuesday to reach a deal or face unilateral government action. The leader of Manchester City Council Richard Leese said he still hoped it would be possible to find an agreed way forward in the hours remaining. However he acknowledged they would have no choice but to comply if ministers decided to impose the most stringent Tier 3 restrictions.
----------
A number of European countries took urgent new measures on Monday to combat a second wave of coronavirus infections, as the World Health Organization blamed the surge in worldwide cases – now more than 40 million – on countries' failure to quarantine infected people properly. Ireland and Wales re-entered lockdown as the number of people who have died from Covid-19 in Europe passed 250,000, according to an AFP tally. Irish prime minister Micheal Martin issued a nationwide "stay at home" order from midnight Wednesday, with all non-essential retail businesses to close and bars and restaurants limited to takeaway service only, although schools will remain open. Wales also announced "firebreak" confinement measures for two weeks, ordering the territory's three million residents to stay at home except for very limited purposes such as exercise or work, and banning people from mixing indoors or outdoors.
----------
UK PM Johnson will tell UK business to step up preparations for the end of the Brexit transition after Downing Street refused to resume talks with the EU. With just 10 weeks until the transition finishes, Johnson and the senior Cabinet minister, Michael Gove, will use a conference call on Tuesday to tell business leaders they should be ready for major change regardless of whether there is a deal with Brussels. The warning comes after the UK government rebuffed a fresh attempt by the EU to restart the negotiations on a post-Brexit free trade deal agreement after they were abruptly halted by Johnson. On Monday, the EU chief negotiator, Michel Barnier, appeared to hold out an olive branch, offering to intensify talks with negotiations based on legal texts – two key British demands.
----------
Data from Destatis showed German producer prices slipped 1.0% annually in September, though climbed 0.4% monthly. FXStreet said market consensus had expected a 0.1% monthly decline and a 1.4% annual drop.
----------
BROKER RATING CHANGES
----------
JPMORGAN RAISES INTERCONTINENTAL HOTELS GROUP TO 'NEUTRAL' ('UNDERWEIGHT') - TARGET 4,400 (3,350) PENCE
----------
JPMORGAN RAISES WHITBREAD TO 'NEUTRAL' ('UNDERWEIGHT') - TARGET 2,400 (2,050) PENCE
----------
GOLDMAN SACHS RAISES NEXT TO 'NEUTRAL' ('SELL') - TARGET 6,500 (5,700) PENCE
----------
BARCLAYS RESUMES NEXT WITH 'OVERWEIGHT' - TARGET 7,200 PENCE
----------
COMPANIES - FTSE 100
----------
BHP Group said it has made good progress with its development projects in the first quarter of its new financial year, with production and unit cost guidance unchanged. The Anglo-Australian miner said it produced 26.7 million barrels of oil equivalent in the first quarter ended September 30, down 9% from 29.2 million barrels a year before but up 1% from 26.3 million in immediately prior quarter. Iron ore production was up 8% to 66.0 million tonnes from 61.0 million tonnes a year prior, but down 1% from 66.7 million tonnes in the quarter before. Copper equivalent production was down 4% year-on-year to 413.2 million tonnes from 489.5 million tonnes, and marginally down from the prior quarter's 413.9 million tonnes. Chief Executive Mike Henry said: "“BHP has started the new financial year with a strong first quarter of safety and production performance. Group production rose two per cent from a year ago driven by solid results in metallurgical coal and iron ore, our major growth projects made good progress, and we secured more options in copper, nickel and oil."
----------
COMPANIES - FTSE 250
----------
Mid-cap housebuilder Bellway said its revenue in the year ended July 31 dropped by nearly a third, "significantly affected by the Covid-19 pandemic". Revenue fell 31% to GBP2.23 billion and pretax profit was down 64% to GBP236.7 million. Bellway noted its number of housing completions plunged 31% to 7,522 during a year which was hit by the Covid-19 lockdown that brought the housing sector to a halt. Bellway resumed dividend payments, having skipped an interim payout, offering a 50.0 pence final dividend, down from 100.00p the year before. However, this left its full-year dividend down 67% to 50.0 pence per share from 150.4p, but the housebuilder promised to increase dividends over time as its earnings recover. Promisingly, it has seen an "encouragingly strong start to trading in the new financial year", with house reservations up 31% to 239 per week.
----------
IT infrastructure products and services firm Softcat's revenue climbed 8.6% to GBP1.08 billion over the same 12-month period, with pretax profit rising 10% to GBP93.6 million. Softcat noted that it ended the year by extended its quarterly growth in "revenue, gross profit and operating profit to sixty consecutive quarters". It raised its total ordinary dividend by 11% to 16.6 pence and proposed a special payout of 7.6p, though this is down 53% from a year earlier.
----------
Trainline said Chief Executive Officer Clare Gilmartin will round off a seven-year stint in the post in February, though she will remain with the rail and coach booking platform as a senior advisor. Chief Operating Officer Jody Ford will succeed her.
----------
COMPANIES - GLOBAL
----------
UBS Group reported its highest third-quarter pretax profit in ten years, as interest income climbed sharply. The Swiss bank posted USD2.58 billion pretax profit for the three months ended September 30, a 91% rise from the previous year's USD1.35 billion profit. According to UBS, this was its "best third quarter [pretax profit] in a decade". This increase came as total operating income rose 26% to USD8.94 billion from USD7.09 billion, helped by a 39% jump in net interest income to USD1.52 billion from USD1.09 billion. UBS's CET1 capital ratio stood at 13.5% at the end of September, beating guidance for 12.7% to 13.3%, and ahead of the previous year's 13.1% figure.
----------
IBM reported that revenue slipped for the third consecutive quarter this year, causing shares to cede a little ground in after-market trade in New York. The US technology veteran said it took in USD17.56 billion during the three months that ended on September 30, down 2.6% from USD18.03 billion in the same period a year earlier. Net income, however, was up 1.8% to USD1.70 billion from USD1.67 billion, as the company trimmed costs, according to the earnings report. IBM shares lost 2.9% in after-market trade Monday, after having closed down 0.3% at USD125.52. The New York-based company spotlighted growth in its cloud computing business, which saw overall revenue climb some 19% to USD6 billion.
----------
Tuesday's Shareholder Meetings
NCC Group PLC - AGM
Thor Mining PLC - AGM
1PM PLC - AGM
----------
By Tom Waite; thomaslwaite@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
