Reckitt Benckiser Shares Fall, LSE:RKT Down 5% From Buyback Level
Reckitt shares slipped 0.22% to 4,602 pence in London midday trade, trading 5.2% below the group’s recent buyback average. The company’s Q1 like-for-like revenue rose 1.3%, missing analyst forecasts, and it warned of a 200 basis point margin drop. An Illinois court overturned a $60 million verdict against its Mead Johnson unit, but nearly 1,000 similar lawsuits remain. Brent crude fell 0.7% to $80.07.