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Wednesday newspaper round-up: Unilever, Together Energy, Royal Mail
Unilever has been warned that buying GlaxoSmithKline’s consumer products arm is likely to substantially swell its debt pile and could trigger a “multi-notch downgrade” to its credit rating. Ratings agency Fitch said Unilever would not be able to keep hold of its current A rating with a stable outlook beyond 2024-2025, and would be cut to BBB, if it were to acquire GSK’s consumer products division or another large business. - Guardian.
Unilever won't lift £50bn offer for GSK consumer health arm
Unilever will not be increasing its offer for GlaxoSmithKline’s consumer healthcare business.
FTSE 250 movers: WH Smith gains ground after update; Liontrust retreats
London’s FTSE 250 was flat at 22,655. 86 in afternoon trade on Wednesday.
FTSE 100 movers: Burberry rallies on update; Ashtead falls
London’s FTSE 100 was up 0. 2% at 7,579. 48 in afternoon trade on Wednesday.
US housing starts unexpectedly rise in December
US housing starts unexpectedly rose in December and building permits surged, according to figures released on Wednesday by the Commerce Department.
SocGen upgrades Unilever to 'buy'
Societe Generale upgraded Unilever on Wednesday to ‘buy’ from ‘sell’ and lifted the price target, citing the company’s new strategy and a projected 12-month total shareholder return of 20. 5%.
Liberum ups Ryanair to 'buy', cites attractive entry level
Liberum upped Ryanair to ‘buy’ from ‘hold’ on Wednesday and lifted the price target to €19 from €17 as it took a look at the European airline sector.
London midday: Stocks turn higher as Pearson, Burberry rally on updates
London stocks had turned higher by midday on Wednesday, helped along by well-received updates from the likes of Pearson and Burberry, as data showed that UK inflation jumped to its highest level in nearly three decades in December.
Best of the Best warns on profits, shares tumble
Best of the Best tumbled on Wednesday after the organiser of weekly competitions to win cars and other prizes warned on profits.
JPMorgan upgrades Segro after underperformance
JPMorgan Cazenove upgraded Segro to ‘overweight’ from ‘neutral’ on Wednesday and lifted the price target to 1,450p from 1,310p as it argued that recent underperformance was a buying opportunity.
Experian COO Kerry Williams to retire
Experian said on Wednesday that Kerry Williams plans to retire as chief operating officer and as an executive director after 19 years at the credit checking firm.
WH Smith takes 'small' hit from Omicron but sees recovery in travel markets
WH Smith said on Wednesday that revenues remained below pre-pandemic levels and that it had taken a small hit from the Omicron variant, but forecast a resumption in the recovery of its travel markets.
London open: FTSE falls as inflation surges to highest since 1992
London stocks fell in early trade on Wednesday as data showed that UK inflation jumped to its highest level in nearly three decades in December, making a February rate hike increasingly likely.
UK inflation hits highest level in nearly three decades
UK inflation jumped to its highest level in nearly three decades in December, making a rate hike in February increasingly likely.
London pre-open: Stocks to drop as inflation surges to highest since 1992
London stocks were set to fall at the open on Wednesday as data showed that UK inflation jumped to its highest level in nearly three decades in December.