(Alliance News) - Stock prices in London are seen opening higher on Tuesday, rebounding from losses on Monday, as investors look ahead to UK unemployment data due at 0930 BST.In early UK company news, contract-for-difference provider Plus500
reported a steep drop in interim earnings but said it is on track for the full year. Tour operator TUI
's third quarter was hurt by the grounding of Boeing's 737 MAX jet. Card Factory
turned in a robust performance. IG futures indicate the FTSE 100 index is to open 12.98 points higher at 7,239.70. The blue-chip index closed down 27.13 points, or 0.4%, at 7,226.72 on Monday.Plus500
said it delivered a "satisfactory" first-half performance against a backdrop of low levels of volatility in financial markets in the first quarter of the year.For the half year to June 30, revenue slumped 68% to USD148.0 million from USD465.5 million the year before and pretax profit collapsed to USD63.9 million from USD346.4 million the year before.Plus500 cut its interim dividend 80% to USD0.2734 from USD1.3786 last year. The online trading provider also decided to commence a share buyback programme, to purchase up to USD50.0 million shares. This will start immediately. The company said it remains on track to meet current expectations for 2019."The group's first half performance, and trading to date in the third quarter, remain in-line with current full year expectations. Like all operators in the sector, Plus500's performance for the remainder of the year is dependent, among other things, on financial market conditions providing sufficient trading opportunities for customers. Underlying operational performance and new customer acquisition rates remain robust. The company is confident of continuing to outperform its peer group in terms of customer acquisition, and is making efforts to further improve the customer trading experience in order to increase retention rates and appeal to more sophisticated traders; success here is expected to provide incremental revenues in due course," the company said. Anglo-German travel company TUI
said its third quarter was hurt by uncertainty around Brexit, aviation overcapacity to Spain, delayed bookings in the summer, and the grounding of Boeing's crash-prone 737 MAX jets.For the third quarter to June 30, revenue rose to EUR4.75 billion from EUR4.58 million in the third quarter last year. However pretax profit slumped to EUR58.9 million from EUR140.9 million and earnings before interest, tax, deprecation and amortisation fell to EUR210.4 million from EUR281.2 million. TUI said the third quarter was hurt by the grounding of the Boeing 737 MAX aircraft, 15 of which it had used within its holiday airline fleet, and anticipates 737 MAX related costs of up to EUR300 million for the current financial year.TUI reiterated that it expects a fall of up to 26% in annual underlying EBITA for financial 2019. Card Factory
said it saw a robust sales performance in a challenging consumer environment during the six months ended July 31. First half sales rose 5.5% and like-for-like sales were up 1.5%, helped by its Valentine's Day and Mother's Day holiday ranges. Card Factory said it is making good progress, its cash generation remains strong, and it expects to return surplus cash to shareholders towards the end of its current financial year. "Looking forward to the forthcoming key fourth quarter trading period, which will have a significant impact on the outturn for the full year, we believe we have the right ranges and products to deliver a good performance; although, we are cognisant of the economic and political uncertainty and weaker consumer confidence. The board anticipates profits for the full year to be broadly in line with its previous expectations," said Chief Executive Karen Hubbard. The pound was quoted at USD1.2066 early Tuesday, soft against USD1.2071 at the London equities close Monday. Sterling hit a fresh two-year low of USD1.2014 on Monday.The UK unemployment rate is expected to remain at 3.8%.On the political front, Donald Trump wants Brexit to be a success, with the UK being "first in line" for a trade deal with the US, possibly on a gradual "sector-by-sector" basis, according to his national security adviser.Speaking following a meeting with UK Prime Minister Boris Johnson on a visit to London, John Bolton said the US could focus on striking bilateral trade deals in certain sectors like manufacturing and car-making where the two countries may agree, and work out more complicated areas later.This comes as pollsters said a majority of the British public think Johnson should suspend Parliament in order to push through Brexit.The Japanese Nikkei 225 index closed down 1.2% on Tuesday. In China, the Shanghai Composite was down 0.8%, while the Hang Seng index in Hong Kong was down 1.8%. Financial markets in Japan reopened after being closed on Monday for the Mountain Day holiday.Increasing unrest in Hong Kong was hurting sentiment as protests extended into a third month, with the city's airport cancelling all flights in and out on Monday evening as thousands of demonstrators descended.In Tuesday's economic calendar, there is the US consumer price index at 1330 BST with the retail Redbook index due at 1355 BST.
UK earnings, trading statements calendar - next 7 days
Wednesday 21 September | |
Alphawave IP Group PLC | Half Year Results |
City Pub Group PLC | Half Year Results |
Dianomi PLC | Half Year Results |
Eagle Eye Solutions Group PLC | Full Year Results |
Frontier Developments PLC | Full Year Results |
Galliford Try Holdings PLC | Full Year Results |
Hostmore PLC | Half Year Results |
Ingenta PLC | Half Year Results |
Keywords Studios PLC | Half Year Results |
LBG Media PLC | Half Year Results |
MyHealthChecked PLC | Half Year Results |
Pendragon PLC | Half Year Results |
Pennant International Group PLC | Half Year Results |
Petershill Partners PLC | Half Year Results |
S4 Capital PLC | Half Year Results |
Strix Group PLC | Half Year Results |
Supermarket Income REIT PLC | Full Year Results |
Surgical Innovations Group PLC | Half Year Results |
Ten Entertainment Group PLC | Half Year Results |
Warpaint London PLC | Half Year Results |
Thursday 22 September | |
Aquis Exchange PLC | Half Year Results |
Biome Technologies PLC | Half Year Results |
Brave Bison Group PLC | Half Year Results |
Ceres Power Holdings PLC | Half Year Results |
Computacenter PLC | Full Year Results |
CVS Group PLC | Full Year Results |
Distribution Finance Capital Holdings PLC | Half Year Results |
Ebiquity PLC | Half Year Results |
Fonix Mobile PLC | Full Year Results |
Forward Partners Group PLC | Half Year Results |
Halma PLC | Trading Statement |
Hansard Global PLC | Full Year Results |
JD Sports Fashion PLC | Half Year Results |
Judges Scientific PLC | Half Year Results |
Learning Technologies Group PLC | Half Year Results |
Life Science REIT PLC | Half Year Results |
Osirium Technologies PLC | Half Year Results |
Pantheon Infrastructure PLC | Half Year Results |
PensionBee Group PLC | Half Year Results |
Playtech PLC | Half Year Results |
Polymetal International PLC | Half Year Results |
PZ Cussons PLC | Full Year Results |
Safestyle UK PLC | Half Year Results |
Time Finance PLC | Full Year Results |
Wilmington PLC | Full Year Results |
Friday 23 September | |
Biffa PLC | Trading Statement |
European Opportunities Trust PLC | Full Year Results |
Investec PLC | Trading Statement |
Smiths Group PLC | Full Year Results |
TheWorks.co.uk PLC | Full Year Results |
Monday 26 September | |
Atome Energy PLC | Half Year Results |
Chapel Down Group PLC | Half Year Results |
Concurrent Technologies PLC | Half Year Results |
CPPGroup PLC | Half Year Results |
Devolver Digital Inc | Half Year Results |
Dillistone Group PLC | Half Year Results |
Finsbury Food Group PLC | Full Year Results |
Frenkel Topping Group PLC | Half Year Results |
Immotion Group PLC | Half Year Results |
Likewise Group PLC | Half Year Results |
Microlise Group PLC | Half Year Results |
Next Fifteen Communications PLC | Half Year Results |
SpaceandPeople PLC | Half Year Results |
XLMedia PLC | Half Year Results |
Xpediator PLC | Half Year Results |
Tuesday 27 September | |
AG Barr PLC | Half Year Results |
Animalcare Group PLC | Half Year Results |
Billington Holdings PLC | Half Year Results |
Boku Inc | Half Year Results |
Card Factory PLC | Half Year Results |
Close Brothers Group PLC | Full Year Results |
Diaceutics PLC | Half Year Results |
Digitalbox PLC | Half Year Results |
ECSC Group PLC | Half Year Results |
Ergomed PLC | Half Year Results |
Ferguson PLC | Q4 Results and Full Year Results |
FireAngel Safety Technology Group PLC | Half Year Results |
GENinCode PLC | Half Year Results |
Instem PLC | Half Year Results |
LifeSafe Holdings PLC | Half Year Results |
Medica Group PLC | Half Year Results |
Mission Group PLC | Half Year Results |
Mortgage Advice Bureau PLC | Half Year Results |
NAHL Group PLC | Half Year Results |
Next Fifteen Communications Group PLC | Half Year Results |
Origin Enterprises PLC | Full Year Results |
United Utilities Group PLC | Trading Statement |
Personal Group Holdings PLC | Half Year Results |
S&U PLC | Half Year Results |
Saga PLC | Half Year Results |
Serica Energy PLC | Half Year Results |
SSP Group PLC | Trading Statement |
tinyBuild Inc | Half Year Results |
Transense Technologies PLC | Full Year Results |
Yu Group PLC | Half Year Results |
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