Advertisement
UK markets open in 2 hours 14 minutes
  • NIKKEI 225

    38,375.26
    -857.54 (-2.19%)
     
  • HANG SENG

    16,279.56
    -320.90 (-1.93%)
     
  • CRUDE OIL

    85.90
    +0.49 (+0.57%)
     
  • GOLD FUTURES

    2,401.40
    +18.40 (+0.77%)
     
  • DOW

    37,735.11
    -248.13 (-0.65%)
     
  • Bitcoin GBP

    49,950.26
    -2,297.88 (-4.40%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • NASDAQ Composite

    15,885.02
    -290.08 (-1.79%)
     
  • UK FTSE All Share

    4,338.90
    -14.76 (-0.34%)
     

BUZZ-Cruise & theme park operators: Yuan devaluation takes a toll

** Cruise operator Carnival (LSE: CCL.L - news) and Merlin, the world's second largest theme park operator behind Walt Disney, down 1-2 pct as companies seen likely to be hurt by a weaker Chinese yuan currency

** Tour co Thomas Cook (Xetra: A0MR3W - news) , in which China's Fosun International owns a 5 pct stake, also down 0.4 pct

** Traders say China news is having a sentimental impact on stocks

** Spending by Chinese tourists, the biggest buyers of luxury goods, jumped 67 pct in Q1, VAT refund company Global Blue (OTC BB: BUES - news) said in a report

** China devalued its currency on Tuesday after a run of poor economic data

ADVERTISEMENT

** Sectors exposed to China - the world's biggest metals consumer and a big market for automobiles, luxury goods, oils and industrial goods - were worst hit

** According to the British Hospitality Association, China will be the largest outbound tourism economy in the world by 2023 (RM (LSE: RM.L - news) : aastha.agnihotri.thomsonreuters.com@reuters.net)