EUROPE MARKETS: Mixed Corporate Results From Nestle And Unilever Keep European Stocks To A Tight Range

Date : 10/17/2019 @ 9:45AM
Source : Dow Jones News
Stock : Nestle S.a. (PC) (NSRGY)
Quote : 104.69  0.2 (0.19%) @ 9:58PM

EUROPE MARKETS: Mixed Corporate Results From Nestle And Unilever Keep European Stocks To A Tight Range

Nestle S.a. (PC) (USOTC:NSRGY)
Historical Stock Chart

2 Months : From Oct 2019 to Dec 2019

Click Here for more Nestle S.a. (PC) Charts.

By Steve Goldstein, MarketWatch

A mixed set of results from European giants including Nestle and Unilever kept stocks within a tight range on Thursday.

Nestle (NESN.EB) slipped 0.9% after reporting 3.7% organic sales growth over nine months and announcing it would repurchase 20 billion francs of new shares through 2022. "On 22x forward earnings Nestle probably needs to upside surprise: with topline inline and the new buyback widely expected today's results are solid but probably not enough to drive the shares near term," said Morgan Stanley in a research note.

Unilever (ULVR.LN) shares rose 2% as the Anglo-Dutch household products group reported 2.9% underlying sales growth in the third quarter (http://www.marketwatch.com/story/unilever-underlying-sales-rise-29-2019-10-17), and said sales by that metric will be at the lower half of its 3% to 5% range for the full year.

"While this is no more than an in-line result, volumes are ahead of our expectations and positive pricing compares favorably to NESN's result this morning, albeit flattered by the re-consolidation of a proportion of Argentina inflation," said analysts at Jefferies.

Pernod Ricard (RI.FR) shares fell 2.9% as the French beverages group said fiscal first quarter sales grew a slower than forecast 1.3%.

Telecom equipment maker Ericsson (ERIC-B.SK) shot up nearly 7% as the company lifted its sales and margin targets. See: Ericsson lifts sales, margin targets as operators continue 5G spending spree (http://www.marketwatch.com/story/ericsson-lifts-sales-margin-targets-as-operators-continue-5g-spending-spree-2019-10-17-41035236)

The major stock market indexes didn't move much, with the Stoxx Europe 600 up 0.17% to 394.12.

The German DAX rose 0.24% to 12700.14, the French CAC 40 added 0.08% to 5701.38 and the U.K. FTSE 100 increased 0.35% to 7193.02.

The British pound drifted lower as the Northern Irish political party the DUP said it rejected a proposed Brexit deal "as things stand."

 

(END) Dow Jones Newswires

October 17, 2019 05:30 ET (09:30 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest NSRGY Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.