FTSE 100 falls as Reckitt Benckiser's quarterly sales disappoint



(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window)

* Reckitt drops to lowest since March 2020, misses estimates

* FirstGroup CEO plans to step down in September; shares drop

* Moonpig sees slowing demand on store reopening

* FTSE 100 down 0.4%, FTSE 250 off 0.2% (Updates to close)

By Shashank Nayar and Amal S

July 27 (Reuters) - London's FTSE 100 fell on Tuesday, weighed by insurance and consumer staple stocks, with Lysol maker Reckitt Benckiser adding to the pressure as it missed quarterly sales estimates.

The FTSE 100 .FTSE ended down 0.4%, with life insurers .FTNMX303010 and consumer staple stocks .FTNMX452010 down 1.8% and 1.4% respectively.

Reckitt RKT.L dropped 8.4%, marking its worst day since February 2003, after missing sales growth estimates and warning on margins as costs rise and easing lockdowns slow demand for products such as Lysol disinfectants.

Other consumer staple stocks, including Imperial Brands IMB.L , British American Tobacco BATS.L and Associated British Foods ABF.L , fell by between 0.1% and 1.1%.

"Investors are likely to be questioning the true defensive characteristics of these consumer goods companies," said Danni Hewson, financial analyst at AJ Bell.

"With consumers increasingly flocking to cheaper supermarket own-label products, the idea that the big brand owners are guaranteed sales success is no longer a given. Margin weakness only adds to the bear case for Reckitt."

The FTSE 100 has recovered nearly 26% since its October lows, when the country battled a deadly second wave of COVID-19 infections, amid support from dovish central bank policies.

However, the blue-chip index is still 12% away from its record high and has significantly underperformed its European and U.S. peers.

Meanwhile, Prime Minister Boris Johnson warned Britons should not get carried away by six days of better COVID-19 infection data, while one of the country's top epidemiologists said the bulk of the pandemic could be behind Britain in just a few months.

The mid-cap FTSE 250 index .FTMC fell 0.2%.

Among other stocks, British online greeting card publisher Moonpig MOONM.L tumbled 9.3% after it warned demand would slow in its new financial year as shops reopened.

Daily Mirror publisher Reach Plc RCH.L gained 6.7% after it said it was trading ahead of expectations and that it expects the strong momentum to continue.

British transport company FirstGroup FGP.L fell 0.2% after its Chief Executive Matthew Gregory said he planned to step down in September, a day after the company's biggest shareholder demanded his resignation.



UK stocks stay cheaper than U.S., European peers Link



Reporting by Shashank Nayar and Amal S in Bengaluru Editing
by Amy Caren Daniel and Mark Potter



免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。

所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。

本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。

我們運用 cookies 提供您最佳之網頁使用經驗。更改您的cookie 設定跟詳情。

風險提示: 您的資金存在風險。杠杆商品可能不適合所有客戶。 請詳細閱讀我們的風險聲明