Shares in British American Tobacco trade 5% lower this morning after FY 2017 results, made complicated by the recent acquisition of Reynolds, disappointed. 2017 FY revenues (£20.3bn reported, £20bn adjusted, £19.3bn adj. at constant currencies) missed consensus of £20.6bn, however, pre-tax income was either a beat at £8.1bn on an adjusted basis or bang inline…
Lloyds Banking Group shares are in the green this morning, albeit off their opening highs, as investors appear happy to ignore headwinds and focus on management’s plans to improve key areas of the business (namely tech), or maybe just the promise of greater shareholder returns. Shares have stalled at 69p as the company announces a…
UK Index heavyweight HSBC (7% weighting) is depriving the blue-chip index of a valuable 21.5pts this morning, its shares down 4.4% and footing the index after FY 2017 results failed to meet market expectations. 2017 full year adjusted profits may well have surged more than six fold to $9.7bn, and revenues climbed 7% to $51.5bn…
Macro observations A duo of market holidays in Asia and the US has meant it’s been a quiet start to the week. By Friday, however, the peace will be shattered as a raft of macroeconomic data, events and speakers will all contribute to an exciting week. Heading up this list will be the minutes from…
Reckitt Benckiser shares are offside this morning after the company announced flat like-for-like sales growth in the fourth quarter, the impact of a major cyber-attack last year continuing to be felt by multiple divisions within its global reach. The household goods giant is going through somewhat of a transition period after its blockbuster $16.6bn takeover…
16 Feb Reuters (Link) Among individual risers, shares in Segro bounced 6.6 percent after the property group beat consensus expectations in its results for 2017.“A solid report card, with attractive fundamentals and an outlook which are sure to maintain interest in what is perhaps the more conservative end of a steady-eddy sector,” Mike van Dulken,…