London, June 6, 2026, 14:10 BST
Unilever wrapped up its €1.5 billion share buyback on Friday. The Dove soap maker’s London shares had ended the day higher. Unilever bought 30,703,780 ordinary shares for a total market value of €1,499,999,891, according to a statement on the London Stock Exchange.
Timing is important here—there’s no longer a regular buyback in place. A buyback means the company is buying back its own shares, so there are fewer shares out. This spreads future earnings across fewer shares, which can boost earnings per share. But it doesn’t repair bad sales or address trouble over a deal.
Unilever shares finished Friday at 4,188.50 pence, gaining 110.50p, or 2.71%. The stock outperformed the FTSE 100, which closed 0.07% higher. Still, shares slipped about 0.4% for the week from a May 29 close of 4,205.50p. Morningstar put the trading range for Unilever at 4,100p to 4,194.50p for the session.
London markets are closed for the weekend, so the main thing traders want to know is if buyers will be back when the stock reopens without the company buying in the mix. The London Stock Exchange stays shut at weekends.
Unilever says the group is getting simpler and more focused after spinning off Magnum ice cream and announcing plans to merge its Foods business with McCormick. In April, Unilever posted first-quarter underlying sales growth of 3.8%. Underlying sales growth excludes items like currency fluctuations and portfolio changes to track organic trends. Chief Executive Fernando Fernandez said, “We started the year well with volume-led growth driven by our Power Brands,” with volume meaning it sold more products, not just at higher prices.
McCormick’s deal is still the core issue. Reuters said in May that shares for both McCormick and Unilever have stayed weak since the deal came out. McCormick has trailed the State Street Consumer Staples Index by 15%, while Unilever was behind the MSCI Europe Consumer Staples Index by 8%. Closing is expected by mid-2027, needing regulatory and McCormick shareholder approval. Unilever holders aren’t required to vote.
Some investors have supported the plan to split up the business. David Samra, managing director at Artisan Partners, told Reuters the deal would “more logically separate” Unilever’s food and personal care arms, and said the rest of Unilever’s businesses are in “faster-growing and highly profitable categories.” Richard Saldanha, global equity portfolio manager at Aviva, said Unilever is clearly aiming to push harder into personal care and beauty, where growth prospects look better. Reuters
There’s a risk the food business deal gets stalled, or regulators push back harder, or investors decide the structure is too messy for now. Tineke Frikkee, portfolio manager at W1M, told Reuters the possible deal “seems complex.” Jack Martin, investment director at Oberon Investments, said Unilever can’t afford a misstep since food is “a big chunk of the value of the business.” If McCormick gets a weak handover or if consumer demand falls in the U.S. and Europe, shares could be left unprotected after buyback support fades. Reuters
Competitive effects here are limited but matter. If McCormick gets French’s mustard and Cholula hot sauce, it stands to be central to Unilever’s next update. What’s left at Unilever would focus more on Dove, Rexona, Vaseline and the rest of its personal and home care lines. It makes for a simpler story than the old group, and with that comes less space for mistakes.
Next week, investors are looking for any new word on the McCormick timetable, what the finished buyback means, and the consumer-staples tone. But the next official update from Unilever isn’t due next week. The company’s calendar shows half-year and second-quarter numbers out July 28, a third-quarter trading update on Oct. 28, and a capital markets day Nov. 4.
