FTSE 100 closes marginally down after treading water through the day as Parliament breaks for Easter after Brexit extension
Holiday cheer as airline stocks gain on hopes holidaymakers will put Brexit concerns aside for summer
Company
LON:MNDI
Mondi PLC is an international paper and packaging company. Its key operations and interests are in western and emerging Europe, Russia and South Africa. It is principally involved in the manufacture of packaging paper and converted packaging products; uncoated fine paper, and specialty products and processes, including coating, release liner and consumer flexibles. The company is integrated across the paper and packaging process, from the growing of wood and manufacture of pulp and paper (including recycled paper) to the converting of packaging papers into corrugated packaging and industrial bags. It has production operations across 35 countries. Its products include virgin and recycled containerboard, and converted products, including corrugated boxes, corrugated board and point-of-sale displays; kraft papers and industrial bags for building materials, chemicals, food and animal feed, and flexible plastic-based products, including release liner and extrusion coating.
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Holiday cheer as airline stocks gain on hopes holidaymakers will put Brexit concerns aside for summer
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Less of a newsagent nowadays but could WH Smith be set to increase payouts to shareholders.
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Also on the retail front, WH Smith and Dunelm will issue updates as well in the Week Ahead, while on the macro front an ECB rate decision and US FOMC meeting minutes are also due
Mondi’s chief executive officer, Peter Oswald said: Pricing is mixed going into 2019, with recent price reductions in containerboard grades and market pulp and stronger pricing in our kraft paper markets"
The UK's premier share index closed down around 32 points at 7,074
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Its set to be a busy day for blue-chip news in London on Thursday.
The FTSE 100-listed packaging firm said it expects its underlying earnings (EBITDA) for 2018 to be "above that" generated in 2017, which had been €1.48bn
The FTSE 100-listed paper and packaging group said it will continue to have a premium listing on the London Stock Exchange and will have an inward secondary listing on the Johannesburg Stock Exchange quoted in rand
“We continue to work actively with our customers, suppliers and other stakeholders to find innovative solutions that improve the sustainability of plastic packaging, based on circular economy principles,” Mondi said
Investments and investor services
The UK blue-chip benchmark finished down nearly 139 points lower at 7,006 - not far from the 7,000 mark
Investments and investor services
The UK index of leading shares finished Thursday down around 11 points, or 0.15%, at 7,563.
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There are not many heavyweights expected to release results on Thursday but plenty will be going ex-dividend
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Only three other FTSE 100-listed companies are scheduled to unveil updates – housebuilder Persimmon, Irish construction group CRH, and Middle East hospitals operator NMC Healthcare
The UK benchmark of leading shares closed down over 24 points at 7,642.
The FTSE 100-listed packaging and paper group saw its underlying operating profit rise to €630mln in the six months to 30 June, up from €503mln a year earlier
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Footsie closed the day up over 83 points at 7,659, but over the week as a whole it was down 0.54%
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Both Royal Bank of Scotland and British Airways owner IAG release interims on Friday.
Underlying profits of €295mln were 15% above a year ago and 6% higher than the previous three months
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It might not be Friday but it could be a messy one in the Square Mile nonetheless, particularly for the pub chains, which are likely to have felt the force of the ‘Beast from the East’
Investments and investor services
Wall Street recovered from earlier lows but still remain in negative territory