London, March 3, 2026, 09:01 GMT — Regular session
- Unilever slipped roughly 2% at the open in London, pulling back after last week’s advance.
- Oil prices surged again, reigniting inflation worries and dragging European stocks lower.
- Unilever’s trading statement lands April 30, and investors are keyed in on what it says about volumes and pricing.
Unilever slipped 2.0% to 5,218 pence (£52.18) by 0847 GMT, dipping as low as 5,208p. Shares kicked off at 5,299p, with roughly 241,000 changing hands so far.
European stocks slid further, weighed down by escalating tensions in the Middle East and another jump in energy prices. By 0804 GMT, the STOXX 600 had dropped 1.3%, with losses hitting utilities and banks the hardest.
Oil and gas prices just jolted the inflation debate back to the forefront. Since Friday, Brent crude has surged almost 10%, while European natural gas contracts are up roughly 50%, according to a Reuters analysis. That’s reigniting flashbacks to the 2022 energy crisis—even as winter demand starts to ebb.
Unilever shares fell 2.58% to £53.26 by Monday’s close, lagging the FTSE 100’s 1.20% slide, MarketWatch data show.
Britain saw another inflation read creep up, this time from its supermarkets. UK grocery inflation reached 4.3% in the four weeks through Feb. 22, according to Worldpanel by Numerator. Skin care items led the pack among fastest risers — not great news for staples makers that depend on customers coming back again and again.
Unilever didn’t issue a fresh trading update on Tuesday, though a standard filing detailed its current share capital and voting rights, as required for UK disclosure. According to a company statement dated March 2, there were 2,184,948,966 voting shares outstanding as of Feb. 27.
For ULVR, the central question is still pricing versus volume—just how much can the company push prices before shoppers balk? Back in February, Unilever flagged that it sees 2026 sales growth coming in at the lower end of its 4% to 6% target. Softer demand in the U.S. and Europe was blamed. The company also laid out a 1.5 billion euro share buyback plan, buying back its own stock.
Oil prices, not breaking news, tend to set traders off. “I just don’t think the average market participant is that moved by the conflict until the price of oil gets to $100 a barrel,” said Alex Morris, CEO of F/m Investments, following a volatile session for Wall Street on Monday. Reuters
That level’s under pressure. Brent climbed again, gaining 2.3% to reach $79.50 on Tuesday. According to LSEG, shipping a tanker from the Middle East to China now costs more than ever. “Any rise in political uncertainty isn’t good for economies,” said JPMorgan economist Jahangir Aziz. Reuters
But for Unilever investors, the situation isn’t straightforward. Higher energy and transport costs could tighten margins and shift the demand mix. Pushing those costs onto customers risks volume declines, particularly if grocery budgets in the UK and Europe take another hit.
Unilever’s Q1 2026 trading statement lands April 30, giving investors a chance to see if price gains are sticking and if volumes rebound post-winter. Before that, the company plans to release a pre-close aide-memoire.
