London’s FTSE 100 index appeared to have gotten of relatively lightly on Tuesday morning, trading down 23.4 points at 7,203.3 despite global markets reeling from a range of issues spanning Brexit to the US-China trade war as well as Italian political instability.
Travel giant TUI (TUI) was in demand, the shares sparking up 3.5% to 839p despite posting a slump in third quarter profit amid weak consumer confidence and the grounding of Boeing’s 737 Max aircraft. There was relief as the company stuck to full year guidance for a 26% fall in EBITDA while reporting good growth in third quarter cruise and hotel bookings.
Bombed-out online contracts for difference (CFD)-to-cryptocurrency trading platform Plus500 (PLUS) rallied 14.4% to 653.8p after reporting 11% growth in active customer numbers for the second quarter and announcing a $50m share buyback.
Unloved gifts-to-greeting cards retailer Card Factory (CARD) improved 3.7% to 167.9p after returning to like-for-like growth in the six months to July with a boost from successful Valentine’s Day and Mother’s Day seasonal ranges. Investors were also relieved as Card Factory assured it was on track to deliver against full year profit expectations.
Aviation services group John Menzies (MNZS) was marked 5% lower to 394.5p after posting a first half loss, blaming a loss of business in last year’s second half, as well as weak cargo volumes and the grounding of Boeing’s 737 Max aircraft.
Luxury watch-to-prestige jewellery purveyor Watches of Switzerland (WOSG) ticked 3.7% higher to 294.5p on a strong first quarter trading statement, management flagging continued strong momentum with ‘standout’ luxury watch sales growth. While noting ongoing macroeconomic uncertainty in the UK and US, CEO Brian Duffy remains confident his charge can meet full year forecasts.
Elsewhere, logistics company Connect (CNCT) cheapened 5.9% to 35.4p on a warning its performance had been slightly below market expectations since the release of interim results in May, with a strong performance at Smiths News partially offsetting a slower turnaround performance at freight distribution arm Tuffnells.
Mobile ecommerce company Bango (BGO:AIM) bounced 7.7% higher to 132.5p after bagging digital music streaming company Spotify as a business partner.
