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UK pre-market stocks update – AstraZeneca, Unilever, Rolls-Royce, Redrow

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By Samuel Indyk – At 07:29GMT, FTSE 100 futures are trading flat at 7,589.

In FX markets, GBP/USD is trading at 1.3535, EUR/GBP is trading at 0.8437. The US Dollar Index is up 0.1%.

Bitcoin is trading at $43,983.

Today’s calendar highlights include US CPI, US Jobless Claims, BoE Governor Bailey speaks, ECB’s Lane speaks.

AstraZeneca (LON:AZN) – Full year total revenue increased 41% to £37.417 billion, including COVID vaccine revenues. Total Revenue excluding vaccine increased 26%. Guides FY 22 at CER of a high-teens percentage increase in Total Revenue and a mid-to-high twenties percentage increase in Core EPS. Intends to increase annualised dividend to $2.90 per share.

Unilever (LON:ULVR) – Full year underlying sales growth of 4.5%. Underlying operating profit up 2.9% to €9.6 billion, underlying operating margin decreased by 10bps. Declared quarterly dividend of €0.4268 per share. Do not intend to pursue major acquisitions in the foreseeable future and will conduct a share buyback programme of up to €3 billion over the next two years. Expect underlying sales growth in 2022 to be in the range of 4.5% to 6.5%.

Vodafone (LON:VOD) – Iliad has reportedly offered more than €11 billion for Vodafone’s Italian business. (FT)

Rolls-Royce (LON:RR) – Announced the completion of the sale of its 23.1% stake in AirTanker Holdings for cash proceeds of £189 million.

Babcock (LON:BAB) – Announced the completion of the sale of its 15.4% stake in AirTanker Holdings for cash consideration of £95 million, net of shareholder loans.

Relx (LON:REL) – 2021 underlying revenue up 7% to £7.244 billion. Adjusted operating profit up 13% to £2.210 billion. Proposed full year dividend of 49.8p per share. Expect 2022 full year underlying growth rates in revenue and adjusted operating profit, as well as constant currency growth in adjusted earnings per share, to remain above historical trends. PLans £500 million share buyback in 2022.

Watches Of Switzerland (LON:WOSG) – Q3 revenue up 27.9% to £348.1 million. Q3 luxury watches +21.0% on last year. Now expects full year revenue and profit to be towards the top end of the upgraded guidance announced at 9 November 2021. Other guidance remains unchanged.

Beazley (LON:BEZG) – Swung to FY profit of $369.2 million. Declared interim dividend of 12.9 pence per share. FY gross premiums written increased 30% to $4.619 billion.

Redrow (LON:RDW) – H1 revenue increased 1% to £1.052 billion. Operating margin increased 2.4 percentage points to 19.5%. Dividend increased 66.67% to 10.0 pence per share. Total order book up £200 million to £1.5 billion.

Associated British Foods (LON:ABF) – Announce the launch of its inaugural public bond, £400 million, 2.5%, due 2034.

Prudential (LON:PRU) – Group CEO Mike Well intends to retire at the end of March 2022.

Darktrace (LON:DARK) – Signs million-dollar contract with a multinational electronics corporation.

Syncona (LON:SYNCS) – 16% growth in NAV in Q3. Net assets increased to £1.34 billion in the quarter.

Ashmore (LON:ASHM) – Assets under management of $87.3 billion at the six months ending 31st December, net outflows of $3.2 billion and negative investment performance of $3.9 billion. Adjusted net revenue of £138.2 million, 12% lower YoY.

UK pre-market stocks update – AstraZeneca, Unilever, Rolls-Royce, Redrow

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