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WestRock Co. (WRK) shares are progressing more than 4 percent on Thursday morning trade as it revealed talks with the Irish firm Smurfit Kappa Group (SKG.L) for a merger to create a global leader in sustainable packaging. ....
30 April 2021 | 07:11am StockMarketWire.com - Packaging firm Smurfit Kappa has revealed that corrugated volume growth in the first quarter was up approximately 7% in both Europe and the Americas, driving underlying revenue growth of 6% to €2,269 million (£1,972 million). Containerboard prices increased in the first quarter and again at the start of the second quarter as a result of strong demand and higher recovered fibre and other costs. The firm reported an EBITDA of €386 million (£335 million) at a margin of 17.0%. However, supply disruptions and shortages of packaging papers has affected global supply, the company said in a statement to shareholders. Tony Smurfit, Group CEO, commented: “The first quarter was remarkable in many ways. We had strong corrugated volume growth in practically every area and all markets in which we operate. With unprecedented industry-wide shortages of supply and input cost pressures, paper prices have moved up sharply. ....
30 April 2021 | 08:33am StockMarketWire.com - The FTSE 100 opened up slightly, rising by 22 points as investors digested the latest quarterly results from blue chips including AstraZeneca and Barclays. High-street bank Barclays reported a sharp rise in first-quarter profit as materially lower credit impairment charges offset a fall in income. For the three months through March, pre-tax profit jumped to a record £2.4 billion from £0.9 billion, while income slipped 6% to £5.9 billion year-on-year. However, its share price slipped in morning trading, down over 7% to 175.18p. Packaging firm Smurfit Kappa has revealed that corrugated volume growth in the first quarter was up approximately 7% in both Europe and the Americas, driving underlying revenue growth of 6% to €2,269 million (£1,972 million). It opened today up over 100 points to £36.71 per share. ....
30 April 2021 | 11:54am StockMarketWire.com - The FTSE 100 had dipped slightly by midday to 6,955.92 as investors weighed up mixed trading in Asia overnight with another outstanding set of numbers from the US tech sector as Amazon reported better than expected quarterly figures High-street bank Barclays reported a sharp rise in first-quarter profit as materially lower credit impairment charges offset a fall in income. For the three months through March, pre-tax profit jumped to a record £2.4 billion from £0.9 billion, while income slipped 6% to £5.9 billion year-on-year. However, its share price slipped in morning trading, down 6% to 177.2p. Packaging firm Smurfit Kappa has revealed that corrugated volume growth in the first quarter was up approximately 7% in both Europe and the Americas, driving underlying revenue growth of 6% to €2,269 million (£1,972 million). It opened today up 3.2% to £36.78 per share. ....
12 March 2021 | 09:13am StockMarketWire.com - The FTSE 100 opened down by 26 points on Friday morning, as data showed the economy shrank in January, weighed down by a slump in trading activity with the EU. The UK economy shrank by 2.9% in January, somewhat lower than the 4.9% drop many were anticipating, whilst UK imports and exports both fell by 19.3% in January Yesterday, the FTSE 100 finished up around 11 points, despite hits to pharma-giant AstraZeneca, recovering in the afternoon what was lost in the morning after a sharp uptick at opening, closing in positive territory. Homembuilder Berkeley said it remained on track to deliver annual profit similar to last year s, in line with guidance, as market fundamentals remained strong supported by low interest rates and an undersupply of homes. ....