Markets on edge as US stimulus deadline looms

Markets on edge as US stimulus deadline looms - business live

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8.20am BST

Consumer goods giant Reckitt Benckiser has lifted its revenue guidance after seeing strong growth for hygiene and health products.

‘Stay at home’ dynamics and social distancing have had significant effects on some of our brands. For example, Finish and Air Wick have benefited from consumers spending more time at home.

In contrast, restrictions on movement have impacted cross-border sales, for example, for infant formula between Hong Kong and China and some VMS demand into Asia from the US.

There is also evidence that birth rates will be further lowered in coming quarters as a result of behaviour changes related to the pandemic. This is expected to have an impact on market growth for our infant nutrition business in 2021.

Following a more challenging first half of the year, relaxations of social distancing regulations resulted in improved demand for our sexual well-being products, including Durex, which saw double digit growth in revenue.

This has been particularly pronounced in markets where the rate of pandemic infection has materially improved.

8.08am BST

The Europe-wide Stoxx 600 has opened 0.2% lower, with Germany’s DAX losing 0.3%.

Trading is muted in London too, with the FTSE 100 down 3 points at 5880.

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Source- World news | The Guardian https://ift.tt/37jHtJn

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