Unilever sales under target

Unilever has reported disappointing third-quarter sales having lost market share to smaller rivals, dampening hopes that a failed takeover bid by Kraft Heinz would spark a swift improvement in performance.

Underlying sales rose only 2.6%. That was below the 3.9% growth expected by analysts, and the 3% seen in the first half of the year.

The company expressed optimism, however, about the auction of its shrinking margarine and spreads business, which officially started last month.