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Three things you need to know in the financial markets this morning from investment writer, Tony Cross

TUI

Tour operator TUI has published half year results this morning, showing a reasonable performance despite a succession of headwinds. Brexit uncertainty, overcapacity in Spain following an upturn in holidaymakers heading for the Eastern med and the grounding of 737-MAX aircraft have all played a role, dragging down the second quarter but turnover is slightly ahead over the 6 month window. Losses in the period are however down and headcount has risen around 8%, suggesting despite stormy conditions the company may be navigating these issues.

SSP

SSP, the operators of food retailers in many travel locations has published interim results this morning. The company is struggling to build like for like sales beyond inflation, but new store growth is driving profitability. Shareholders are being rewarded with a 20% increase in dividends and with operating margins nudging a shade higher too, there may be sufficient to impress here.

Kingfisher

Kingfisher, the owners of the Screwfix and B&Q brands, published Q1 numbers this morning, presenting something of a mixed bag. UK & Ireland sales remain strong and have been sufficient to deliver some group-wide growth, but territories including Spain, Germany and France continue to languish. Full year expectations are at present unchanged but investors may well be underwhelmed by the numbers.

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Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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