It's a bad start on the FTSE 100 this morning as Unilever has cut its full-year earnings forecast because of lower sales.
The FTSE 100 index is currently down 13.4 points or 0.3% to 4577.6 after Unilever said its July and August sales are down while the FTSE All-Share Index slipped 0.2% to 2276.9. Unilever dropped 24.5p or 5.1% to 457.5p and Imperial Chemical Industries fell 3.75p or 1.7%, to 212.75p as ICI bought Unilever's specialty chemicals division in 1997. United Utilities Plc, the UK’s largest traded water company, also fell after Merrill Lynch advised investors to sell their stock. One of the few gains today is Imperial Tobacco Group which rose after reporting profit in its current fiscal year...
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