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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CONSUMER STAPLES
- Consumers lagged the index slightly at -1bp on the week average.
- Kellanova was the top performer following the agreed takeover by A1/A+ rated Mars. The rating agencies duly but it on review for upgrade, with Mars getting the opposite treatment.
- Tapestry posted good albeit in-line results. FY25 guidance was close to consensus also. It gave a firm commitment to the Capri deal, framing it as an “execution opportunity” and boosting expected synergies.
- Flutter rallied on strong earnings, which faded somewhat on talk of a bid for Snaitech. We see less than 1x leverage impact if fully debt funded.
- Elsewhere earnings from Pandora, ISS and Henkel were uneventful.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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