London, Jan 10, 2026, 08:54 GMT — Market closed
- Unilever shares closed up 1.7% on Friday, beating the FTSE 100
- An amended voting-rights filing corrected the share count used for UK disclosure thresholds
- Investors are waiting on Unilever’s Feb. 12 full-year results for the next read on growth and margins
Unilever shares ended Friday up 1.7% at 4,744 pence, outperforming London’s FTSE 100 ahead of the weekend. Turnover was light versus recent averages, suggesting much of the move was flow rather than fresh conviction. 1
That matters now because the stock has been trading on sparse, incremental signals as the market shifts into results season. With no trading until Monday, investors will start next week with a short list: next month’s numbers, and whether the group can keep volumes steady without leaning harder on price.
The company is still bedding in post-ice-cream separation mechanics after last month’s Magnum demerger and share consolidation, which can make older price comparisons messy for some screens. The next clean catalyst is the full-year update, when Unilever is expected to show how the slimmer group is tracking on growth and margin delivery. 2
In the past two sessions, Unilever’s Indian arm, Hindustan Unilever, disclosed a tax authority order seeking 15.6 billion rupees ($173.6 million). The company said it would appeal and that the order would have “no material impact” on its financials or operations. 3
Separately, an amended filing corrected Unilever’s “total voting rights” figure — the number shareholders use as the denominator when judging whether a stake crosses UK disclosure thresholds. The filing put shares with voting rights at 2,180,690,335 as at Dec. 31, after excluding a small number of group-held shares whose voting rights are not exercisable. 4
Price action has been choppy even over the last two days: shares traded as low as 4,584.5 pence on Thursday and as high as 4,750 pence on Friday, before ending back near the top of that band. That leaves the stock still well below its late-December peak, a level many chart watchers treat as the next overhead test. 5
When Unilever reports, investors will be looking for signs that volume and mix (how much it sells, and what it sells) are holding up as price rises fade across consumer staples. Any colour on operating margin — and how much is coming from cost saves versus pricing — is likely to set the tone for the stock into spring.
But there are still obvious ways it can go wrong. A softer consumer, renewed cost pressure in key inputs, or a weaker contribution from faster-growth markets could push the margin story back into the “show me” bracket, while disputes like the India tax order can linger longer than management expects.
The next scheduled catalyst is Unilever’s Q4 and full-year 2025 results on Feb. 12, followed by a CEO appearance at the CAGNY conference on Feb. 17. 6
