Jamie Chisholm is a markets reporter based in London.
Not even the start of a £1 billion buyback program could save shares of Reckitt RKT, -4.83% on Wednesday, as they dropped nearly 7% after the consumer goods group missed revenue expectations.
Analysts welcomed news that Licht was immediately launching a share repurchase program, but expressed concerns that margins may slip. One notable strong performer was Deutsche Bank DBK, +7.00%, whose shares rose nearly 7% after the German financier said it plans to profit on increased volatility in global markets, and boost shareholder returns using an extra €3 billion worth of capital it expects to free up by 2025.
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