London, June 8, 2026, 16:03 BST
- Reckitt slipped 1.7% to 4,471p late Monday, underperforming the mostly unchanged FTSE 100.
- The company said it has launched a new share buyback and a €150 million tap of its 2035 notes.
- Investors are weighing slow Q1 growth, soft conditions in Europe, and pressure on margins.
Reckitt Benckiser shares slipped late Monday in London after the company announced a new buyback and a minor euro bond tap, which failed to dispel worries over weak trading and pressure on margins. The stock lost 1.7% to 4,471p by 15:56 BST. The FTSE 100 was flat to a touch stronger.
Reckitt is in the middle of a reset. The maker of Durex, Dettol and Lysol has been giving cash back to shareholders, but the stock is still well off its January high. Investors want to know if the company can grow as a smaller group without hitting its margin in the process.
Reckitt said Monday it picked up 142,219 ordinary shares on June 5, paying a volume-weighted average of 4,519.99p. The stock goes into treasury, so the company holds these shares and they’re not out in the public float.
Reckitt’s latest buy came as part of its ongoing buyback. In March, the company said the third tranche of its £1 billion plan would return as much as £540 million, kicking off on March 9 and set to wrap up by July 27. Deutsche Bank is handling the buying on the London Stock Exchange and elsewhere.
Reckitt added €150 million to its 4.0% notes due May 2035, pricing the tap under its Euro Medium Term Note programme. The debt is part of the same series as an earlier €500 million issue. The EMTN setup allows the company to offer bonds as needed.
Operations are still the main focus for the equity story. Reckitt posted 1.3% Core Reckitt like-for-like revenue growth in the first quarter. That metric removes the impact of currencies and portfolio changes. If you take out seasonal over-the-counter medicines like cold and flu products, growth was 3.1%.
CEO Kris Licht said the quarter took a hit from “very low seasonal incidence, weak categories in Europe and geopolitical disruption,” but said, “We maintain our LFL net revenue guidance for 2026.” Emerging markets were up 7.6%. Europe dropped 4.2%, North America edged down 0.9%. That split has investors questioning whether the buyback is enough. Reckitt
Reckitt’s next shot to shift the discussion comes July 29, with first-half results on the calendar. For now, traders are left to watch daily buyback filings, debt headlines, and the mood across staples.
Haleon slipped 1.8% just after 16:00 BST, giving Reckitt a little cover from peers. Google Finance showed Unilever down 0.5%. Reckitt was still weaker than Unilever, and its drop matched selling in other consumer-health names.
Concerns linger. Back in March, Quilter Cheviot analyst Chris Beckett told Reuters, “the margin benefit from the divestiture of essential home is being offset by stranded costs and FX,” pointing to costs left after a business sale and foreign-exchange swings. Reuters
The trade is still up in the air. If the cold-and-flu season improves, or sales in China and India pick up, or cost cuts move faster, Monday’s drop in the shares could prove too steep. On the other hand, if oil-linked input costs stay high, or if Middle East conflict, Russia sanctions, and sluggish developed markets drag on, first-half margins could stay tight and the buyback ends up carrying the load.
