Stagecoach to Steam ahead
TRAVEL firm Stagecoach will signal whether its joint venture with Virgin is on track when it submits its interim statement tomorrow. The current franchise is due to expire this month, but traders seem positive and shares have steamed ahead by over 25 per cent since lows in May. Spreadex quotes a price of 291.7p-293.8p for Stagecoach.
The latest traffic numbers from International Consolidated Airlines Group (IAG) are expected to show modest improvement tomorrow. However, Hurricane Sandy is likely to have hit long-haul travel. The airline unveiled a radical restructuring plan last month. Shares are up by over 11 per cent in the last year, and traders will want to see if it can continue to fly high. ETX Capital quotes a price of 171.06p-171.54p for IAG.
The share price of budget airline easyJet has lifted-off in 2012, rising by over 80 per cent and putting it within touching distance of its record high around 740p. A good trading statement on Thursday may give the stock price a boost to breach this level. Capital Spreads quotes a price of 724.5p-727.0p for easyJet.
Tesco will release a fresh set of numbers tomorrow. But traders aren’t holding their breath. The US business is yet to make a profit, and UK non-food business is struggling. Analysts only expect a small rise in like-for-like sales. IG quotes a price of 322.10p-322.74p for Tesco.
Mulberry’s recent profit warning has raised concerns over the resilience of the luxury retail sector. Demand from emerging markets is starting to slip as economic growth in Asia cools. The recent recovery of its shares will be tested when the retailer issues its latest trading update on Thursday. CMC Markets quotes a price of 1,159.11p-1,180.95p for Mulberry.