London, March 11, 2026, 15:50 GMT
Unilever PLC shares fell in London on Wednesday, down 1.37% at 4,840 pence by 1546, after touching 4,824 pence. The move tracked a weaker FTSE 100, which was off 0.6% as oil prices stayed choppy on concern over the Middle East conflict. 1
The timing is awkward. Unilever said with its February results that 2026 underlying sales growth — which strips out currency swings and deal effects — would likely land at the bottom end of its 4% to 6% range, with only a modest improvement in operating margin, or profit kept from each euro of sales. Brent crude moving back above $90 a barrel makes that promise look tighter. 2
The stock remains well below its late-December peak even after Unilever announced a 1.5 billion euro buyback, or share repurchase, expected to start in the second quarter. At Wednesday’s level, the shares were about 13% below the 55.42-pound high reached on Dec. 19. “There are signs of progress at Unilever … however we think it will take time,” RBC Capital Markets analyst James Edwardes Jones wrote after the February report. 2
Tuesday briefly eased the pressure. London’s blue-chip index posted its biggest one-day rise in nearly a year after comments from U.S. President Donald Trump helped trigger an almost 11% drop in oil, but that relief faded fast on Wednesday as Brent bounced and most FTSE 350 sectors turned lower. 3
The Magnum Ice Cream Company completed its split from Unilever in December. In the fourth quarter, North America sales growth slowed to 2.8% and Europe managed 0.1%. Quilter Cheviot analyst Chris Beckett said, “Cost of living pressures continue to impact in developed markets.” 4
Peers have not had an easier run. Reckitt lost more than 6% last week after hazy guidance on margins and earnings per share overshadowed a sales beat, and JPMorgan said the move reflected crowded positioning in defensive staples — the consumer names investors often buy for shelter — a group that includes Unilever and Nestle. 5
Separately, a regulatory filing late Tuesday disclosed performance-share awards granted on March 6 to members of Unilever’s leadership executive, including Home Care chief Eduardo Campanella, Personal Care head Fabian Garcia and Chief Research & Development Officer Richard Slater. The transactions were reported outside a trading venue. 6
But the next leg for Unilever may depend less on filings than on costs. Citigroup’s Beata Manthey warned on Wednesday that supply-chain disruption from higher commodity prices could leave margins “hard to protect” if input costs stay high, and Unilever has already told investors it expects price rises of about 2% this year, below the past decade’s average. That leaves the shares exposed if U.S. and European demand stays soft and energy bills rise again. 7
