BT Q3 adj. revenue -1% YoY (beat), adj. EBITDA -3% (miss), net debt +24.5%. Consumer (rev. +4%) growth driven by price increases, but Openreach (rev. -4%) weaker after regulated price cuts/volume discounts. Pensions deficit widened to £5bn (+11.1%). FY outlook unchanged, with EBITDA top of guidance, short-term impact of regulation/costs/legacy offset by better FY’20 trading,

Diageo H1 organic volumes +4% YoY, net sales +7% (beat), pre-exceptional op. profit +12% (beat), free cash flow +30.9% (beat), interim dividend +5%. Expects £80m FX hit to net sales, FY tax rate 21-22% (vs H1 21.2%). Approved incremental £660m share buyback and return of £340m proceeds from portfolio sale deal. FY guidance of mid-single organic net sales growth unchanged.

Royal Dutch Shell Q4 CCS profits (ex exceptionals) +32% YoY (+1.1% QoQ); Operating cash flow +203% (+82% QoQ), quarterly dividend flat at 47c; benefited from higher oil, gas and LNG prices as well as stronger contributions from crude oil and LNG trading; Announces 3rd tranche ($2.5bn) of buyback. Expects lower integrated gas, LNG and upstream production, refinery availability and oil product sales in Q1. Britvic revenues +4.5% in Q1, in Line with views

Unilever 2018 FY underlying sales +2.9% (3.1% excl. Spreads) to €51bn (in-line), operating profits €12bn (beat €8.8bn est); Q4 dividend +22%; on-track for 2020 goals but expect market conditions to remain challenging with underlying sales growth in lower half of multi-year 3-5% range.

Polymetal FY gold production +13% YoY (sales +9%), silver -6% (sales -3%), net debt +7%. FY outlook unchanged, FY Kyzyl production and Omolon grades improvement offsetting planned grade declines at Albazino, Voro and Dukat. Production typically H2-weighted. FY capex of $380m in-line.

(Sources: Company newswires, Bloomberg, CNBC, FT, Reuters, Wall Street Journal)