TUI share price edges higher ahead of annual results

on Dec 9, 2015
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Shares in TUI AG (LON:TUI) have been trading marginally higher this morning as investors expect the company’s annual results announcement tomorrow.

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The update will show how the tour operator behind the Thomson and First Choice brands has fared amid recent market worries that security concerns would dent appetite for foreign travel. The sector has been in decline since Britain suspended flights to the Egyptian resort area Sharm el Sheikh on fears that a bomb brought down a Russian plane late last month. Security fears were also intensified by the attacks on Paris that killed 130 people on November 13. Vacation packages to Tunisia from Britain had already been halted after the death of 38 tourists in a massacre on a Tunisian beach in June.

Despite the current market backdrop, Deutsche Bank has shared a positive view on TUI’s annual performance: “We believe any potential costs can be absorbed, like the Tunisia impact was, and don’t see any material changes to group guidance of at least 10 per cent underlying growth.”

TUI’s share price inched up at the opening bell this morning. As of 10:47 GMT, the blue-chip company was trading 0.44 percent higher at 1,134.00p, outperforming the FTSE 100 index, which meanwhile stood 0.16 percent up at 6,125.55 points. The tour operator has gained almost six percent since the beginning of the year.

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