Thomas Cook Share News (TCG)

LONDON (Alliance News) - The FTSE 100 got off to a sluggish start following the long weekend, with gains for NMC Health and mining stocks unable to stop London's blue-chip index ending Tuesday's session in negative territory.Both the pound and the euro were subdued following European Parliament elections, which saw a shift towards nationalist parties, as well as Liberals and Greens.The FTSE 100 index closed down 8.78 points, or 0.1%, at 7,268.95, slipping from earlier gains after hitting a high of 7,314.85 in afternoon trade.The FTSE 250, however, ended up 77.67 points, or 0.4%, at 19,204.93, and the AIM All-Share closed up 0.5%, rising 4.74 points to 965.33.The Cboe UK 100 ended down 0.1% at 12,329.75 the Cboe UK 250 closed up 0.4% at 17,270.73, and the Cboe Small Companies shed 0.1% to 11,842.54.In European equities on Tuesday, the CAC 40 in Paris and the DAX 30 in Frankfurt both ended 0.4% lower."Gains for mainland European stocks yesterday were expected to drive further upside in the UK today. However, with the weekend rise of Eurosceptics in the European elections denting confidence, the likes of the euro and European stocks have been drifting lower as the day progresses," said Joshua Mahony, senior market analyst at IG.Over the weekend, EU leaders and party officials were forced to rethink their strategies after European Parliament elections ended the domination of the main centre-right and centre-left parties.The results across Europe suggest a decline in the main centre-right and centre-left grouping in the European Parliament, with a boost for the Liberals, Greens and nationalists.Many citizens turned their backs on the centre-right European People's Party - one of its key figures, German Chancellor Angela Merkel, saw her party lose ground - and the centre-left Socialists. The two parties have dominated the parliament with a combined majority since elections were first held in 1979.In the UK, the Conservatives were hammered by Nigel Farage's Brexit Party.Just four Conservatives were elected in England, Scotland and Wales, while the Brexit Party had 29 seats, overtaking the 24 MEPs that Farage's former party Ukip sent to the European Parliament in 2014.The Lib Dems, reduced to just a single MEP in 2014, were on 16 after their best ever European results. Labour had 10, halved from 20, while the Greens - who also enjoyed a boost from pro-EU voters - were on seven, up from three in 2014 as they finished above the Conservatives for the first time in a national elections.UK Prime Minister Theresa May said it was a "very disappointing night" for the Conservatives.The pound was quoted at USD1.2675 at the London equities close Tuesday, lower compared to USD1.2687 at the close on Friday.The euro, meanwhile, stood at USD1.1178 at the European equities close Tuesday, dipping from USD1.1207 at the same time on Friday.Though the European session was downbeat, stocks in New York were higher at the London equities close, with the Dow Jones and S&P 500 index both up 0.2%, while the Nasdaq Composite rose 0.4%NMC Health, gaining 7.1%, was unable to prevent the FTSE 100 slipping into the red as the healthcare provider upgraded annual guidance after establishing a joint venture in Saudi Arabia. The venture has been formed by the General Organization for Social Insurance - the largest pension fund in Saudi Arabia - contributing its 39% stake in Tadawul-listed National Medical Care Co at a price of SAR54, or GBP11.36, per share and NMC contributing its five Saudi Arabian assets plus an additional USD66 million in cash at closing.NMC owns 53% of joint venture, known as NMC KSA, while the General Organization for Social Insurance owns the other 47%.In light of the venture, NMC upgraded its underlying 2019 guidance, and expects to post revenue of GBP2.50 billion to USD2.54 billion in 2019, up from the previously guided USD2.43 billion to USD2.47 billion.In 2019, earnings before interest, taxation, depreciation, and amortisation is expected to be USD575 million to USD585 million - previously USD566 million to USD576 million.Miner Antofagasta gained 2.0% as HSBC upgraded the stock to Hold from Reduce.Another mining stock to gain on Tuesday was Rio Tinto, up 2.3%, while BHP Group rose 2.0%. "Rio Tinto share have hit their highest level since the financial crisis on the back of a rally in Chinese iron ore futures...a sizeable drop in iron ore stockpiles in China drove the futures contracts to a record-high, and that also helped BHP Billiton," said David Madden at CMC Markets.FTSE 250-listed Amigo Holdings finished 12% higher after the lender reported a sharp rise in annual profit and revenue in the firm's maiden set of annual results since listing in London.In the 12 months to March 31, Amigo saw its pretax profit increase 68% to GBP111.0 million from GBP66.1 million the year before. Revenue increased 28% to GBP270.7 million from GBP210.8 million.Looking ahead to the new financial year, Amigo said it has made a "solid start" despite the "mood of uncertainty" around Brexit. The guarantor loans provider said it has not seen any "notable effect" from Brexit but will continue to monitor the situation. Galliford Try ended up 3.9% after the housebuilding and construction company rejected a GBP950 million merger offer from Bovis Homes.Bovis wanted to purchase the Galliford's Linden Homes and its Partnerships & Regeneration businesses and intended to issue new shares to fund the deal, after which Galliford would have remained an ­independently listed company focused on contract construction.Galliford said the offer did not "fully value" the two businesses, and reiterated it remains confident in its long-term future.Bovis Homes ended up 0.2%.Elsewhere on the Main Market, Thomas Cook closed up 19% after Berenberg raised the travel agent to Hold from Sell. "There is still some optionality surrounding the potential for an airline sale or a white knight saving the tour operator," said Berenberg.Nonetheless, the stock remains 87% lower compared to this time a year ago.Turning to commodities, Brent oil was quoted at USD69.80 a barrel at the London equities close Tuesday, up from USD67.55 late Friday.Gold was quoted at USD1,278.69 an ounce at the London equities close Tuesday, down from USD1,284.02 at the close on Friday.In the economic calendar on Wednesday, the British Retail Consortium shop price index is out at 0001 BST while French consumer and producer prices, along with first quarter GDP, are out at 0745 BST. In Germany, unemployment data is at 0855 BST and the Redbook index in the US is at 1355 BST.In the corporate calendar, there are annual results from London Southend Airport operator Stobart Group and engineering firm AVEVA.