London stocks edge higher as Unilever, Man Group gains offset banks and energy drag
London's main FTSE indexes are edging higher on Tuesday as strong corporate updates from consumer-facing companies and asset managers support sentiment. The advance comes even as bank and energy shares remain under pressure, with investors also looking ahead to policy signals from the Federal Reserve and the Bank of England later this week.
Highlights
- FTSE 100 rises 0.5% to 10,845.71 by 0950 GMT and FTSE 250 adds 0.2%, driven by strong corporate earnings in consumer and media sectors.
- Unilever jumps 6.8% after raising its annual forecast and reporting its best quarterly volume growth in over a decade; Coats climbs 7.1%, Man Group gains 4.6%.
- Banks drop 0.7% led by Barclays' 5.1% decline after strong results were already priced in, while energy stocks fall 0.6% as oil prices slide more than 2%.
Corporate earnings drive early market gains
As reported by Reuters, the FTSE 100 is up 0.5% at 10,845.71 points by 0950 GMT, while the FTSE 250 adds 0.2% as earnings-led gains in several consumer and media names help lift the market.Unilever jumps 6.8% and is on track for its biggest one-day gain in two years after raising its annual forecast and posting its strongest quarterly volume growth in more than a decade. The company says consumers continue to buy brands including Vaseline, Dove and Cif despite concerns over household budgets.
On the mid-cap index, Coats rises 7.1% after the thread maker reports higher first-half profit. Man Group gains 4.6% to its highest level since 2010 after the hedge fund manager posts an 11% half-year rise in assets under management that beats expectations, while Canal+ advances 6.2% after reporting a slight increase in half-year revenue.
Banks and energy limit broader upside
Banks lead sector declines, falling 0.7% after Barclays drops 5.1% despite reporting a better-than-expected 17% rise in first-half profit. The reaction suggests investors have already priced in strong results from British lenders.Energy stocks fall 0.6% as oil prices slide more than 2% on hopes for a resolution to the U.S.-Iran conflict. Later this week, market attention turns to policy statements from the U.S. Federal Reserve and the Bank of England for clues on the central banks' next moves.
Unilever’s upgraded annual sales outlook and standout Q2 volume growth were the focus of our earlier coverage, underscoring momentum in the company’s turnaround plan. We noted that demand in key emerging markets such as India and Latin America supported stronger volumes, while investors also tracked ongoing portfolio reshaping, including moves around the group’s food business.
Latest Unilever News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
