Advertisement
UK markets open in 6 hours 29 minutes
  • NIKKEI 225

    37,937.91
    -522.17 (-1.36%)
     
  • HANG SENG

    17,201.27
    +372.34 (+2.21%)
     
  • CRUDE OIL

    82.75
    -0.06 (-0.07%)
     
  • GOLD FUTURES

    2,330.00
    -8.40 (-0.36%)
     
  • DOW

    38,460.92
    -42.77 (-0.11%)
     
  • Bitcoin GBP

    51,718.47
    -1,660.07 (-3.11%)
     
  • CMC Crypto 200

    1,390.59
    -33.51 (-2.35%)
     
  • NASDAQ Composite

    15,712.75
    +16.11 (+0.10%)
     
  • UK FTSE All Share

    4,374.06
    -4.69 (-0.11%)
     

BUZZ-Reckitt: solid results push stock closer to record high

** Consumer goods giant Reckitt Benckiser (Xetra: A0M1W6 - news) eyeing a record high after Q2 results beat

** Q2 organic sales +5% (vs +4.3% consensus flagged by brokers)

** H1 adjusted operating margin up 160bps to 21.9%

** Improvement broad-based by geography, consumer health & hygiene led, & aided by a favourable flu season

** Stock, up 2.4%, second-top FTSE 100 riser, just 1.4% shy of its all-time high, reached late April

** Stock trading on 25x next year's earnings -- fellow consumer stocks Diageo (LSE: DGE.L - news) , Unilever & AB Foods on 21x-32x; rich valuations explained by yield-starved investors chasing reliable dividend payers (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)