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Share Price: 98.80

Bid: 99.00

Ask: 99.90

Change: -0.30 (-0.30%)

Spread: 0.90 (0.909%)

Open: 100.00

High: 100.00

Low: 98.20

Prev. Close: 99.10

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PZ Cussons slumps on Canaccord downgrade

Fri, 03rd Jun 2016 09:59

(ShareCast News) - PZ Cussons was under the cosh on Friday after Canaccord Genuity cut the stock to 'hold' from 'buy', keeping the price target at 345p as it recommended taking profits ahead of the full-year update.The brokerage noted that since the interim results on 26 January, the shares are up 37%, helped by a 57% rise in the oil price and outperforming the FTSE 250 index by 31%."We think risk from the scheduled full year trading update on 9th June is no better than equally weighted (with April's update stating that performance 'overall...has been in line with expectations'), and would take profits in the light of the rerating and the lack of a near-term catalyst."Canaccord pointed out that Nigeria, having been as much as 40-45% of group profit three years ago, now accounts for just 25%. It said visibility here remains limited, with further devaluation of the naira possible and Cussons continuing to have to buy dollars at a 50% - or higher - premium to the official rate."While the company has been drawing on its 100+ years of experience in Nigeria, enabling it to perform creditably in Home & Personal Care products (through the sale of smaller pack sizes, for example), we see little prospect of a near term rebound in its more economically sensitive electrical white goods business in Nigeria - despite a strong market share performance."As a result, the brokerage cut its growth assumptions for the Africa division.Still, it said Cussons' performance elsewhere continues to be strong.At 1010 BST, shares were down 3% to 330.30p.

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14 Jun 2018 11:00

WINNERS & LOSERS SUMMARY: Rolls Royce Flies High With Planned Job Cuts

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - up 2.6%. The jet engine maker said it will cut

14 Jun 2018 09:33

BROKER RATINGS SUMMARY: UBS Cuts RELX; Barclays Cuts Pearson

LONDON (Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:----------FTSE 100----------UBS CUTS TO CUTS TO - TO

14 Jun 2018 09:08

TOP NEWS: Nigeria Drags PZ Cussons Profit To Low End Of Guidance

LONDON (Alliance News) - Consumer products group PZ Cussons PLC said Thursday that its annual profit is expected to be "towards the bottom end" of its March estimate due to difficult in

2 May 2018 10:26

Consumer Goods Firm PZ Cussons Appoints Two New Board Members

LONDON (Alliance News) - Consumer good company PZ Cussons PLC said Tuesday that Tamara Minick-Scokalo and Dariusz Kucz have joined as non-executive directors, with effect from Tuesday.Kucz

15 Mar 2018 17:12

UPDATE 1-Consumer stocks a headache as Britain's FTSE inches higher

* FTSE 100 up 0.1 pct at close * Unilever scraps UK headquarters * PZ Cussons sinks on profit warning (Recasts, adds quotes and detail, up dates prices at Julien

15 Mar 2018 10:53

WINNERS & LOSERS SUMMARY: PZ Cussons Shares Plummet On Profit Warning

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - up 1.2%. The heating and plumbing products has

15 Mar 2018 10:24

Britain's FTSE back in the black, Unilever slips after UK snub

(For a live blog on European stocks, type LIVE/ in an Eikon news window) * FTSE 100 up 0.3 pct * Unilever scraps UK headquarters * Spirax-Sarco top STOXX

15 Mar 2018 09:08

BUZZ-PZ Cussons: worst day ever after profit warning

** UK-based consumer products company PZ Cussons' shares down 22 pct, biggest ever one-day drop, after warns on full-year profit ** Cites weakness in the and Co tax

15 Mar 2018 09:07

TOP NEWS: PZ Cussons Slides As UK & Nigeria Woes Hit Profit Outlook

LONDON (Alliance News) - Shares in consumer products firm PZ Cussons PLC plunged on Thursday as difficult trading in both the UK and prompted a profit 15%

15 Mar 2018 08:31

UPDATE 1-Soap maker PZ Cussons warns on profit, shares see worst day ever

March 15 (Reuters) - Soap and shampoo maker PZ Cussons warned on full-year profit and said it would cut costs as it fights weaker sales in the UK and wiping out a fourth of on

15 Mar 2018 07:54

Soap and shampoo maker PZ Cussons warns on full-year profit

March 15 (Reuters) - Soap and shampoo maker PZ Cussons said it expected profit for the full year to fall short of expectations, hurt by weakness in the UK and company said it

15 Mar 2018 07:30

BRIEF-PZ Cussons Says ?Profit For Full Year Will Fall Short Of Expectations?

March 15 (Reuters) - Pz Cussons Plc: * ?PROFIT FOR FULL YEAR WILL FALL SHORT OF EXPECTATIONS? * ?ANTICIPATES THAT PROFIT BEFORE TAX WILL BE IN RANGE OF £80 MILLION - £85

13 Feb 2017 11:19

Ex-divs to take 27.6 points off FTSE 100 on Feb.16

LONDON, Feb 13 (Reuters) - The following FTSE 100 companies will go ex-dividend on Thursday, after which investors will no longer qualify for the latest dividend payout. According to Reuters calculations at current market prices, the effect of the resulting adjustment to prices by market-mak

1 Feb 2017 11:57

DIRECTOR DEALINGS: PZ Cussons Chairman Doubles Shareholding

24 Jan 2017 12:01

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