Unilever (ULVR LN) Q1 2026 Trading Statement: Underlying Sales +3.8% (exp. 3.7%); FY26 outlook unchanged with USG at lower end of 4-6% and modest margin improvement expected

Unilever's Q1 sales growth of +3.8% slightly beat expectations, indicating solid demand driven by strong emerging market performance and its Power Brands.

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Unilever (ULVR LN) Q1 2026 Trading Statement: Underlying Sales +3.8% (exp. 3.7%); FY26 outlook unchanged with USG at lower end of 4-6% and modest margin improvement expected

Glencore (GLEN LN) Q1 Production Report: Maintains FY production guidance; Copper production 199.6kt (prev. 167.9kt Y/Y), Cobalt 5.8kt (prev. 9.5kt Y/Y), Zinc 176.9kt (prev. 213.6kt Y/Y), Nickel 17.2kt (prev. 18.8kt Y/Y), Gold 68koz (prev. 145koz Y/Y)

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  • Volume-led growth with broad-based category strength and strong emerging markets, Power Brands leading, negative FX impact of -7.7%, Foods combination with McCormick announced, productivity savings ahead of plan,.
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However, the unchanged FY26 outlook, with USG at the lower end of 4-6%, suggests management is cautious about future growth, likely due to ongoing FX headwinds. This report signals mixed sentiment — solid performance but tempered expectations — which could influence market positioning for consumer goods sectors.

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