Two of the best known companies on the UK stock market, Diageo (DGE) and Unilever (ULVR), have seen their shares marked down amid signs of slowing growth.

Drinks giant Diageo’s shares have fallen 13% since September, not helped by the Johnnie Walker maker downgrading full year 2020 organic sales growth guidance to towards the lower end of its 4% to 6% mid-term range.

The downgrade reflected increased emerging markets volatility and US tariffs as well as currency swings and the potential for the coronavirus to dent China and airport demand.

Unilever’s share price has fallen by 14% since August. Its 2.9% underlying sales growth for 2019 was below the 3% to 5% targeted range for the second consecutive year following fourth quarter slowdowns in South Asia and West Africa. Underlying sales growth for 2020 is expected to be in the lower half of Unilever’s multi-year 3% to 5% range.

Braced for a coronavirus impact, Unilever’s key markets such as the US and Brazil remain soft and the company, which has initiated a strategic review of its global tea business, is encountering slowdowns in India and Africa.

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