Diageo

 

The drinks giant Diageo published interim results this morning and took the stance of removing mid-term guidance given the uncertainty that’s hanging over markets right now from a geopolitical and macroeconomic perspective. So, despite the iconic Guinness brand recording double digit sales growth for an eighth consecutive half year, the prospect of US tariffs, then the spill-over effect these could have on the global economy, have left investors flat. The Diageo share price was down 3.5% in early trade.

 

Vodafone

 

Another heavyweight stock reporting this morning was the telecoms operator Vodafone with a Q3 trading update. Despite posting news of group revenues being up by 5% which was sufficient to mitigate a sluggish German market as regulatory change takes effect, investors gave the news a lukewarm reception. Even the additional commitment that share buybacks would continue proved insufficient to bolster sentiment. Within the first hour, the Vodafone share price was down by more than 5%.

 

Crest Nicholson

 

The FTSE-250 listed housebuilder Crest Nicholson published full year numbers this morning which again left the market underwhelmed. Consumer caution in the property market has been well reported of late and this was laid bare in the update with completions down by 7% but adjusted profits fell by almost 40%. Management concluded the year had been “tough” and “disappointing” but were optimistic that pent up demand would start to flow through and the strong land bank would provide a good basis for further development as well. The Crest Nicholson share price was however more than 3% lower an hour into the day.

 

Most read news on Investegate this morning

 

Interim results - - Diageo (DGE)

Final Results - - Crest Nicholson Holdings (CRST)

Vodafone Q3 FY25 Trading Update - - Vodafone Group (VOD)