London, June 22, 2026, 12:12 BST
- Unilever was last seen at around 4,339 pence, off 0.6%. FTSE 100 was up about 0.2%.
- The shares traded 1.7% over their 50-day average, while sitting 8.2% under the 200-day level.
- Unilever reports half-year numbers July 28. The update should focus on pricing, volume, and cost inflation.
Unilever PLC (LSE:ULVR) was down about 0.6% at 4,339 pence in delayed midday trading Monday. The FTSE 100 moved up 0.2%. That put the consumer-goods stock about 0.8 percentage points behind the index on the day.
Unilever’s shares are stuck even as its operations pick up. First-quarter underlying sales came in up 3.8%, with volumes rising 2.9% and prices adding 0.9%. The company is still moving ahead with the McCormick deal to merge its Foods unit.
FTSE 100 clawed back early losses in choppy London trade after Prime Minister Keir Starmer said he would resign. The index had been down 0.1% before moving back into the green. Unilever still fell, and the move now looks tied more to the stock or its sector than the overall market.
Unilever traded around 4,339p, putting it 1.7% above its 50-day moving average at 4,268p, but still 8.2% under its 200-day moving average, which sits at 4,727p. The relative strength index closed at 55 Friday, sitting in neutral territory. Technically, the stock looks to be building a base in the short term, with no firm sign yet of a longer-term turnaround.
Relative performance is where the gap stands out. Unilever shares have dropped 10.2% for the year through June 19, according to FTSE Russell. The stock trailed the FTSE 350 by 14.4 percentage points. That suggests the broader index is up around 4.2%. Monday’s small decline mattered less compared to Unilever’s ongoing discount to the UK market.
Unilever’s Power Brands, covering around 78% of turnover, posted 5% underlying sales growth and 4% volume growth for the first quarter. CEO Fernando Fernandez said the group “started the year well with volume-led growth.” But the company still guides for full-year sales growth at the low end of its 4%-6% range. Unilever
Unilever is not alone in facing higher costs. Procter & Gamble and Reckitt have flagged more expensive inputs or logistics tied to the Middle East conflict. Unilever faces the challenge of passing those costs to buyers with higher prices without losing them to rivals’ cheaper products.
But there is still real downside risk. Unilever now sees €750 million to €900 million in cost inflation this year, up €350 million to €500 million from its earlier estimate. The Foods separation is set to leave €400 million to €500 million of stranded costs. Finance chief Srinivas Phatak said: “There will be frequent price increases but in small doses.” Chris Beckett, consumer-staples analyst at Quilter Cheviot, said: “There are limits to what they can do — it’s not easy to take pricing.” Reuters
Analysts are far apart on the stock. The median 12-month target from 17 analysts is about 5,209p, almost 20% higher than where shares traded at midday Monday. The most bearish view puts the target at 4,307p, just under the current price. The wide range signals debate over when the reshuffle will lift earnings.
July 28 brings the half-year report, a key test for the stock. Investors probably need to see that sales volumes aren’t slipping as price hikes filter through, and that the Foods spin-off moves ahead without eating into margins.
