George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksTUI AG Share News (TUI)

Share Price Information for TUI AG (TUI)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 653.00
Bid: 650.50
Ask: 652.50
Change: 0.00 (0.00%)
Spread: 2.00 (0.307%)
Open: 0.00
High: 0.00
Low: 0.00
Prev. Close: 653.00
TUI Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON BRIEFING: Earnings focus ahead of US inflation report

Wed, 10th Aug 2022 08:39

(Alliance News) - Insurers took centre stage in London early Wednesday, with both Prudential and Aviva reporting results, while markets awaited a key consumer price index reading in the afternoon.

Meanwhile, shares in holiday operator Tui dropped to the bottom of the FTSE 250 index, despite reporting a nearly breakeven quarterly result, its first since the Covid-19 pandemic decimated travel. Tui said its underlying loss before interest and tax was EUR27.0 million, narrowed from EUR669.8 million a year before. It said summer travel this year is almost at the same level as in 2019.

Tui shares were down 2.9% early Wednesday in London.

Here is what you need to know at the London market open:

----------

MARKETS

----------

FTSE 100: down 0.2% at 7,475.72

----------

Hang Seng: down 2.3% at 19,550.70

Nikkei 225: closed down 0.7% at 27,819.33

S&P/ASX 200: closed down 0.5% at 6,992.70

----------

DJIA: closed down 58.13 points, or 0.2%, at 32,774.41

S&P 500: closed down 0.4% at 4,122.47

Nasdaq Composite: closed down 1.2% at 12,493.93

----------

EUR: down at USD1.0209 (USD1.0223)

GBP: down at USD1.2075 (USD1.2086)

USD: firm at JPY135.04 (JPY134.96)

GOLD: down at USD1,788.80 per ounce (USD1,793.82)

OIL (Brent): down at USD95.57 a barrel (USD97.62)

(changes since previous London equities close)

----------

ECONOMICS AND GENERAL

----------

Wednesday's key economic events still to come

0700 EDT US MBA weekly mortgage applications survey

0830 EDT US consumer price index

1000 EDT US monthly wholesale trade

1000 CDT US Fed Chicago President Charles Evans speaks at Drake University

1030 EDT US EIA weekly petroleum status report

----------

Consumer prices in Germany rose at a slower pace in July, the Federal Statistical Office said, continuing a trend seen since May, but inflation remained elevated. Annually, consumer price inflation was 7.5% in July, confirming flash estimates, falling back slightly from 7.6% in June and 7.9% in May. On a monthly basis, prices rose by 0.9% in July from June, having risen by 0.1% in June from May. On a harmonised basis, designed for EU-wide comparison, Germany's annual inflation rate warmed up to 8.5% from 8.2% in June. On a monthly basis, prices rose by 0.9%, having declined by 0.1% in June.

----------

BROKER RATING CHANGES

----------

Peel Hunt cuts IWG to 'add' ('buy') - target 240 (353) pence

----------

Barclays cuts IWG price target to 230 (300) pence - 'overweight'

----------

HSBC cuts XP Power to 'hold' (buy) - price target 2,430 (4,000) pence

----------

Jefferies starts Pets At Home with 'buy' - price target 425 pence

----------

COMPANIES - FTSE 100

----------

Prudential was pleased with its "resilient" performance in the first half, but new business profit was held back by rising interest rates in Hong Kong. Prudential has a large business in Asia. In the six months to June 30, attributable pretax profit slumped to USD300 million from USD1.26 billion. However, adjusted operating pretax profit rose 5.7% to USD1.66 billion from USD1.57 billion. Pru noted it booked a negative USD1.38 billion "short-term fluctuation" in investment returns, which is much worse than the negative USD212 million seen a year prior. Annual premium equivalent sales rose to USD2.21 billion from USD2.08 billion. New business profit slipped to USD1.10 billion from USD1.18 billion, which Pru put down to higher interest rates and differences in geographical and channel mix. Interim Chief Executive Mark FitzPatrick said: "Our resilient operational performance demonstrates the strength of our well positioned and well diversified franchise across the Asia region, driven by our multi-channel, digitally enhanced distribution platform." Anil Wadhwani will take over as CEO of Prudential in February next year. Pru declared an interim dividend of 5.74 US cents, up 7% year-on-year and equal to one-third of its previous full-year dividend of 17.23 cents per share.

----------

Aviva reported an "excellent" first half and is confident of meeting its annual targets. In the six months to June 30, its IFRS loss widened to GBP633 million from a GBP198 million loss a year prior. Adjusted operating profit rose to GBP829 million from GBP725 million. Annuities & equity sales increased 12% to GBP2.76 billion from GBP2.47 billion. Aviva's General Insurance gross written premiums rose 6% to GBP4.69 billion from GBP4.37 billion. Its combined operating ratio worsened to 94.0% from 91.6%, however. New business sales in Life unit were up 3% to GBP17.4 billion from GBP16.9 billion. Its Solvency II cover ratio fell to 234% from 244%. Aviva declared an interim dividend of 10.3p, rising 40% from 7.35p a year earlier. "Overall, Aviva is in excellent health and our strategy is delivering results. We enter the second half of 2022 with confidence and while we remain mindful of market and macro-economic challenges, we are on track to meet all of our financial targets," Chief Executive Amanda Blanc said.

----------

Industrial and electronic products distributor RS Group has acquired Mexican Risoul y Cia for USD275 million cash. RS Group, formerly known as Electrocomponents, said the deal for the distributor of industrial and automation products "significantly strengthens" its position in Mexico. "We are excited about deepening our presence in Mexico and having a strong platform to expand into Latin America, a region we can see benefiting from nearshoring owing to de-globalisation and a greater focus on improving sustainability through reducing distances products travel," RS added.

----------

COMPANIES - FTSE 250

----------

TP ICAP saw revenue grow across its asset classes in the first half, leading to a nice bump in dividend. In the first half of 2022, pretax profit more than doubled to GBP72 million from GBP28 million. Revenue rose to GBP1.08 billion from GBP936 million, led by a strong performance in Rates. Global broking revenue was up 8%, with TP ICAP saying all asset classes generated revenue uplift. Global broking revenue per broker increased 14%. TP ICAP upped its dividend by 13% to 4.5p from 4.0p. "Despite the uncertain backdrop, we are cautiously optimistic for the remainder of the year and we are well positioned," the interdealer broker added.

----------

Quilter reported a single-digit rise in profit in the first half characterised by heightened global market volatility and "extremely challenging" conditions. The London-based wealth manager posted a 9% increase in adjusted pretax profit to GBP61 million for six months to June 30 from GBP56 million in the prior year on the back of broadly flat revenue and cost discipline. Total net fee revenue was virtually unchanged at of GBP303 million from GBP304 million. Interim dividend remained unchanged at 1.2 pence even though adjusted diluted earnings per share dropped by 5.1% to 3.7p from 3.9p. For the interim period, assets under management and administration were 12% lower at GBP98.7 billion as at June 30 from GBP111.8 million as at December 31 principally due to adverse market movements of GBP14.5 billion, which offset net inflows. Net inflows slowed by 30% to GBP1.4 billion from GBP2.0 billion.

----------

COMPANIES - SMALL CAP

----------

Simon Wolfson, CEO of FTSE 100 retailer Next, left the board of Deliveroo on Tuesday, the food delivery company said. "After much consideration, and with regret, I believe that the time required to continue in my role at Deliveroo is no longer compatible with my executive and other commitments," Wolfson said. "I have enjoyed my time working with [Founder & CEO Will Shu], the executive team and my board colleagues over the past 18 months and wish the company all the best for the future." The announcement came as Deliveroo reported a wider half-year loss. The pretax loss widened to GBP147.3 million in the first half of 2022 from GBP95.4 million a year before, even as revenue rose by 12% to GBP1.01 billion from GBP907.0 million. Gross transaction value rose by 7% to GBP3.56 billion, and Deliveroo expects GTV to rise by between 4% and 12% at constant current in the full year. It expects to reach breakeven on adjusted earnings sometime between the second half of next year and the first half of 2024.

----------

Wednesday's shareholder meetings

AssetCo PLC - GM re share split

Ariana Resources PLC - AGM

Cadence Minerals PLC - AGM

CML Microsystems PLC - AGM

Foresight Group Holdings Ltd - AGM

Mountview Estates PLC - AGM

Unbound Group PLC - GM re open offer

----------

By Tom Waite; thomaslwaite@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
6 Mar 2024 12:02

LONDON MARKET MIDDAY: Stocks climb ahead of UK spring budget

(Alliance News) - Stock prices in London were higher at midday Wednesday, as investors prepared for what the UK spring budget, with tax cuts potentially on the cards.

Read more
6 Mar 2024 09:07

LONDON BROKER RATINGS: JPMorgan raises IAG; Jefferies likes Experian

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

Read more
27 Feb 2024 11:02

PRESS: Shein eyes London listing after facing obstacles in the US

(Alliance News) - Fast-fashion company Shein is considering the possibility of switching its initial public offering to London from New York because of hurdles to the listing in the US, according to Bloomberg.

Read more
15 Feb 2024 18:26

Tui customers may now also book Ryanair flights

(Alliance News) - Customers of the German travel firm Tui AG will be able to combine their accommodation with flights operated by the Irish budget airline Ryanair Holdings PLC in future.

Read more
14 Feb 2024 16:53

LONDON MARKET CLOSE: Investors celebrate steady UK inflation

(Alliance News) - Stock prices in London closed higher on Wednesday, after data showed that the UK's annual inflation rate was steady last month, defying expectations of an acceleration.

Read more
14 Feb 2024 15:23

London close: Stocks rise as UK inflation holds steady

(Sharecast News) - London markets ended the day on a positive note on Wednesday as housebuilders rallied, following data indicating that UK inflation remained steady in January.

Read more
14 Feb 2024 09:40

LONDON BROKER RATINGS: Panmure likes Nichols; Jefferies cuts Bytes

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
13 Feb 2024 18:24

UPDATE: Tui "pleased" as shareholders vote for London delisting

(Alliance News) - Tui AG on Tuesday said it was "pleased", after its shareholders voted for its shares to be delisted in London.

Read more
13 Feb 2024 16:53

LONDON MARKET CLOSE: Stocks in red amid sticky US inflation data

(Alliance News) - Stock prices in London closed in the red on Tuesday, after a key US inflation reading came in hotter-than-expected.

Read more
13 Feb 2024 16:21

London close: Stocks fall as US inflation tops expectations

(Sharecast News) - London markets ended the trading day in negative territory on Tuesday, influenced by concerns over higher inflation figures from the United States and a deceleration in wage growth within the UK.

Read more
13 Feb 2024 16:21

London close: Stocks fall as US inflation tops expectations

(Sharecast News) - London markets ended the trading day in negative territory on Tuesday, influenced by concerns over higher inflation figures from the United States and a deceleration in wage growth within the UK.

Read more
13 Feb 2024 12:06

LONDON MARKET MIDDAY: Stocks fall but pound up before US data

(Alliance News) - Stock prices in London were on the decline on Tuesday afternoon, with sentiment tetchy ahead of a US inflation report later.

Read more
13 Feb 2024 08:48

LONDON MARKET OPEN: Slow start ahead of US inflation reading

(Alliance News) - Stock prices in London opened lower on Tuesday, with a stronger pound and interest rate sensitive stocks keeping a lid on the FTSE 100, following more robust than expected UK labour market data.

Read more
13 Feb 2024 07:45

LONDON BRIEFING: "Record" Tui quarter; Ultimate Products eyes payouts

(Alliance News) - London's FTSE 100 is to open ever-so-slightly lower on Tuesday, with trade set to be nervy ahead of the afternoon's US inflation data.

Read more
13 Feb 2024 07:01

TUI delivers record Q1 and holds on to guidance

(Sharecast News) - Travel agency company TUI has registered a positive quarterly underlying profit for the first time after a record performance in the first quarter, as it reiterated its guidance for the full year.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.