FTSE Today: Unilever climbs, PureTech announces $100m shareholder return
Unilever jumps on shake-up plan, ice cream unit to be spun off.
London's FTSE 100 index edged higher on Tuesday, shrugging off concerns about upcoming central bank decisions and economic data releases. The blue-chip benchmark closed 0.2% higher at 7,738.30, led by gains in consumer goods giant Unilever.
Unilever jumped 3.1% after unveiling plans to spin off its ice cream business and cut 7,500 jobs as part of a broader reorganisation effort. The company aims to accelerate its "growth action plan" and achieve cost savings of around €800 million over three years, offsetting dis-synergies from separating the ice cream unit.
Elsewhere, the FTSE 250 midcap index slipped 0.3%, with PureTech Health jumping 8.1% after announcing plans to return $100 million to shareholders through a tender offer. In contrast, Crest Nicholson plummeted 9.1% after warning of a potential £15 million charge linked to defects in some legacy projects.
The FTSE AIM All-Share index fell 0.2% to close at 735.56.
Sofa retailer DFS fell 6.0% as it slashed its interim dividend and lowered full-year profit guidance amid weakening demand.
Daily Risers and Fallers
Vanquis Banking 10%, PureTech 9.3%, Sabre Insurance 7.2%, Gulf Marine Services 7%, Zotefoams 5.7%.
Crest Nicholson 9.1%, Ceres Power 7.1%, Dfs Furniture 6%, Regional Reit 5.5%, Digital 9 5.5%.
Daily Recap
- PureTech Health proposes $100 million shareholder return
- Boom Battle Bars fuel XP Factory's growth as revenue nearly doubles
- Bitcoin tumbles after record highs, altcoins remain resilient
- AstraZeneca bolsters cancer arsenal with $2.4 billion Fusion buy
- Robinhood launches in UK with commission-free trading
- Unilever to shed 7,500 jobs and spin-off ice cream business
- Gold clings to $2,150 ahead of crucial Fed meeting
- USD/JPY: BOJ ends negative rates era, yen weakens
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