UK's Elementis jumps on share buyback launch

Elementis

02/06/2026 08:41

** Shares of Elementis ELM.L rises as much as 7.64% to 163.4p
** ELM top performer across London stocks 
** Global specialty chemicals co launches a ~$35 mln share buyback programme
** Adds, has completed sale of its pharmaceutical manufacturing business to Associated British Foods ABF.L 
** Keeps outlook for year unchanged 
** "The buyback announcement is not unexpected, but clearly helpful," say analysts at Jefferies in a note
** Adds, "The FY26 outlook is unchanged, but we believe 1Q26 strength has continued into the 2Q"
** As of last close, stock down ~3.37% YTD 

 (Reporting by Ankita Bora in Bengaluru)
 ((Ankita.Bora@thomsonreuters.com))