|Bid||5,996.00 x 0|
|Ask||5,998.00 x 0|
|Day's range||5,916.00 - 6,038.00|
|52-week range||5,559.00 - 6,862.00|
|Beta (3Y monthly)||0.85|
|PE ratio (TTM)||30.15|
|Earnings date||18 Feb 2019 - 22 Feb 2019|
|Forward dividend & yield||1.46 (2.44%)|
|1y target est||7,085.56|
The blue-chip index followed Wall Street lower after U.S. President Donald Trump warned China not to wait for the 2020 U.S. presidential election to make a trade deal. Big British banks, such as Barclays and RBS , fell after the BoE said banks would have to tell investors in 2021 if they could be closed down without disrupting financial markets. Corporate earnings were the main drivers behind most of the major stock moves on both UK indexes.
Reckitt Benckiser cut its full-year revenue target after reporting lower than expected sales in its last quarter under long-time chief executive Rakesh Kapoor, hurt by a surprise slowdown in demand for infant formula in China. The Durex condom and Lysol disinfectant maker said on Tuesday it now expected full-year like-for-like sales growth of between 2% and 3%, down from its previous target of 3% to 4%, also blaming a tough market in Europe for its downgrade. Reckitt, which kept its "broadly flat" operating margin target, said slowing birth rates over the past two years and increased competition had led to market share losses for its Enfamil infant nutrition products in China, its biggest market for baby food.
Consumer products company Reckitt Benckiser says it will pay $1.4 billion to resolve U.S. investigations into the marketing of an anti-addiction drug by a subsidiary. The company said Thursday it reached agreements with the U.S. Department of Justice and the Federal Trade Commission. The government alleged that an ex-Reckitt subsidiary sought to increase prescriptions for Suboxone Film by deceiving health care providers into believing the drug was safer than other opioid addiction treatments.
The FTSE 100 shed 0.3%, while the mid-cap FTSE 250 capitalised on a rise in sterling to add 0.1%. The U.S. government scrapped one of its most ambitious proposals for lowering prescription medicine prices, backing down from a policy that would have required health insurers to pass on billions of dollars in rebates they receive from drugmakers to Medicare patients. "Overall, we view this outcome as a modest negative for the major pharmaceutical group," JP Morgan analysts wrote, adding that the move had removed a "potential positive catalyst" for the sector.
The settlement, the largest by any company related to the U.S. opioid epidemic, resolved long-running probes by the U.S. Justice Department and the Federal Trade Commission into the companies' marketing and sales of Suboxone Film. The deal came after Indivior in April was indicted and accused of deceiving doctors and healthcare benefit programs into believing Suboxone Film, itself a form of opioid, was safer and less susceptible to abuse than similar drugs.
Narasimhan, PepsiCo's global chief commercial officer, is the first external candidate to be appointed as CEO at Reckitt since the maker of Durex condoms, Nurofen tablets and Dettol cleaners was formed in 1999. The 52-year-old takes over as CEO on Sept. 1, replacing Rakesh Kapoor, 60, who has led Reckitt for more than eight years and said in January he would retire this year.
At a meeting with 10 British and U.S. businesses at St James' Palace, the Queen's official residence, May will tell companies such as defense contractor BAE Systems and pharmaceuticals giant GlaxoSmithKline that greater cooperation would boost the two countries' economic partnership. "It is a great partnership, but one I believe we can make greater still," she will say, according to advance extracts from her office.
LONDON/BEIJING, May 7 (Reuters) - Nestle plans to launch a new line of baby formula in China this year under an existing brand, targeted at smaller cities, as the world's largest packaged food company tries to lengthen its lead in the world's biggest baby milk market. The new line, discussed exclusively with Reuters, will focus on smaller provincial cities, often in China's western provinces, where greater shipping distances and lower incomes can make some imported brand goods unaffordable, though wealth there is growing. Producers of many consumer staples such as soft drinks and soap had to seek growth in the less-profitable provincial cities years ago, as China's richer eastern markets matured.
The FTSE 100 was largely flat on Monday, as oil majors dipped following United States' demand to OPEC for higher production, while online supermarket Ocado slipped after disclosing the cause of the fire at its Andover site earlier this year. Meanwhile, travel groups TUI and Thomas Cook rose over 2 percent after the latter said British holidaymakers are favoring destinations outside the European Union.