22nd Apr 2026 08:02
(Alliance News) - Headline UK inflation rises to 3.3%, Reckitt Benckiser reports lower first-quarter revenue, while Aberdeen hails a "robust" performance.
Here is what you need to know before the London market open:
----------
MARKETS
----------
FTSE 100: called down 0.1% at 10,484.19
GBP: higher at USD1.3519 (USD1.3507 at previous London equities close)
----------
ECONOMICS
----------
Headline UK inflation rose to 3.3% in the year to March, as the war in Iran hit fuel costs, according to figures published by the Office for National Statistics. The consumer prices index including owner occupiers' housing costs, or CPIH, rose by 3.4% in the 12 months to March, up from 3.2% in February. On a month-on-month basis, CPIH rose by 0.6% in March, compared with a rise of 0.3% in the same month last year. Headline consumer prices index inflation also accelerated. CPI rose by 3.3% year-on-year in March, up from 3.0% in February. The figure was inline with the FXStreet-cited consensus. Monthly CPI rose by 0.7% in March, compared with a 0.3% rise a year earlier. This came in ahead of the 0.6% consensus expectation. A separate ONS release showed producer input prices rose by 5.4% in the year to March, sharply up from a revised 0.7% in the year to February. On a monthly basis, producer input prices rose by 4.4%. Producer output prices, which measure factory gate inflation, rose by 2.6% in the year to March, up from a revised rise of 1.8% in February. Producer output prices were 0.9% higher on-month.
----------
BROKER RATINGS
----------
Barclays cuts Autotrader to 'equal weight' - price target 605 (825) pence
----------
Deutsche Bank Research cuts Crest Nicholson to 'hold' (buy) - price target 79 (228) pence
----------
COMPANIES - FTSE 100
----------
Reckitt Benckiser says net revenue falls in the first quarter due to foreign exchange headwinds and the sale of its Essential Home arm, but rises on a like-for-like basis. The Uxbridge, London-based consumer goods firm says net revenue in the quarter to the end of March falls 12% to GBP3.25 billion from GBP3.68 billion a year prior. However, it says net revenue rises 0.6% on a like-for-like basis. Volumes fall 2.0% while price/mix rises 2.6%, Reckitt adds. The firm says Core Reckitt delivers net revenue growth of 1.3% on a like-for-like basis to EUR2.60 billion, but falls 1.2% on a reported basis. This is helped by 7.6% growth in its Emerging Markets segment. The company maintains its like-for-like net revenue guidance for 2026. It expects Core Reckitt net revenue to rise between 4% and 5% on a like-for-like basis. Chief Executive Officer Kris Licht says: "This will be driven by sequential growth from our market-leading Powerbrands, as the season resets and we continue to launch superior innovations including Mucinex 12hr Cold and Fever, improved performance in Europe and continued strong growth across China, India and non-seasonal North America."
----------
Bunzl reports a "resilient" performance in the first quarter amid macroeconomic and geopolitical uncertainty. In a trading statement, the London-based distribution and services company says revenue rises 1.5% at constant exchange rates, with underlying revenue up by 2.0%. Acquisitions net of disposals contributes 0.6%, while fewer trading days have a 1.1% impact. At actual exchange rates, Bunzl says its revenue falls by 0.4%. The firm says first quarter adjusted operating profit is consistent with its expectations for a more stable performance in 2026. Bunzl backs its 2026 guidance and says its performance so far has been in line with expectations. It continues to expect moderate revenue growth at constant exchange rates, driven by some underlying revenue growth and a small benefit from acquisitions, with the operating margin to be slightly down on-year. Chief Executive Officer Frank van Zanten says: "Furthermore, there continues to be a significant consolidation opportunity; our pipeline is active and we see an improved outlook for acquisitions in 2026 compared to the prior year."
----------
COMPANIES - FTSE 250
----------
Aberdeen Group reports a "robust" performance in the first quarter despite market headwinds, and notes particular strength in interactive investor. Assets under management and administration fall 1.5% to GBP547.7 billion at the end of March from GBP556.0 billion at the end of December. The Edinburgh-based wealth and asset management says this reflects the divestment of the financial planning business, lower markets and net outflows. The firm reports net outflows of GBP2.9 billion in the quarter, improved from GBP5.2 billion a year prior. Total interactive investor customers jump 14% on-year to 513,000. Looking ahead, Aberdeen says it remains committed to the delivery of its 2026 targets of adjusted operating profit of at least GBP300 million and net capital generation of GBP300 million. "In Investments, performance in the quarter was largely as expected, despite geopolitical uncertainty. Outflows were mainly driven by anticipated redemptions, while we recorded progress in fixed income, real assets, and in our emerging market franchise. We have stronger investment performance and growing confidence in our pipeline," says Chief Executive Officer Jason Windsor.
----------
OTHER COMPANIES
----------
Pinewood Technologies reports higher earnings for 2025 amid "significant strategic process". The Birmingham, England-based software provider for automotive sellers says pretax profit multiplies to GBP49.7 million from GBP8.2 million, while revenue rises 30% to GBP40.5 million from GBP31.2 million. The company benefits from a GBP60.8 million gain from the remeasurement of previously held equity interest. Underlying pretax profit climbs 3.5% to GBP8.8 million from GBP8.5 million. The prior year comparisons are for an 11-month period to the end of December 2024. Looking ahead, the firm says its expects underlying earnings before interest, tax, depreciation and amortisation to be in line with market expectations of GBP21.3 million. In 2025, underlying Ebitda climbs 17% to GBP16.4 million from GBP14.0 million.
----------
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Auto TraderCrest NicholsonReckittBunzlAbrdnPinewood Technologies Group