Consumer stocks were higher Wednesday afternoon, with the Consumer Staples Select Sector SPDR Fund (XLP) up 0.7% and the Consumer Discretionary Select Sector SPDR Fund (XLY) up 0.8%.
According to company news, shares of Coty (COTY) rose 5.4%. The company raised its first-half and full-year sales outlook for fiscal 2024 due to strong dynamics in demand for beauty products.
Unilever (UL) has hired Morgan Stanley (MS) and Evercore (EVR) to sell Elida Beauty, a group of beauty and personal care brands, Reuters reported on Wednesday. Unilever shares added 1.1%.
Philip Morris International (PM) is considering selling a stake in its pharmaceutical unit Vectura, The Wall Street Journal reported. Philip Morris rose 1.2%.
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