Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. TUI: demand for holidays still not back to pre-pandemic levels
Q1 numbers from tour operator TUI [LON:TUI] are out today, covering the October-December period. The company notes a strong improvement in underlying EBIT and encouraging booking momentum across both winter and summer seasons. It’s a data heavy update but a couple of nuggets include the fact that summer 2023 sales are now at 89% of pre-pandemic levels, whilst prices are some 27% up on 4 years ago.
- UK Stock Market News: Barclays, Unilever, Coca-Cola
- UK Stock Market News: Mitie, THG, Associated British Foods
- Companies Reporting: Ashtead, Currys, TUI
#2. Coca Cola: bumper results and optimistic outlook
Coca Cola HBC LON:CCH has issued full year results to December 31st this morning. Organic revenues rose by 14%, and stripping out the Russian and Ukrainian markets, that figure improved by almost 23%. Investors are being rewarded with a close on 10% increase in dividends and management are painting a bullish picture looking ahead, too, with talk that organic revenue growth will be above target for 2023.
#3. Mitie: CMA investigation called off
Mitie Group LON:MTO has this morning advised the market that a CMA investigation into the company has now been officially closed. News of the inquiry was sufficient to push the MITIE share price to 12 month lows but the stock has since made a strong recovery anyway. Whether this news provides any more meaningful upside remains to be seen.
