Yahoo Finance Trending tickers: Shell | Persimmon | Antofagasta | TUI
Investor updates on FTSE 100 stocks with traction
Shell (SHEL.L)
Shell is higher this Thursday as the energy giant forecast higher liquefied natural gas (LNG) output in the first quarter.
The business said it expects to produce between 930,000 and 970,000 barrels of oil equivalent per day from its integrated gas division in the three months, up from 917,000 barrels in the last three months of 2022.
The oil and gas major said developments in Australia would also help it supply more liquid gas – the type transported by ship – to countries around the world.
“In its usual teaser ahead of quarterly results Shell is flagging a big loss – but there is a reason investors are brushing this news off,” Danni Hewson, head of financial analysis at AJ Bell, said.
“The anticipated loss is a quirk of accounting – reflecting one-off tax charges which could well be the result of booking the impact of future windfall taxes upfront. Based on the performance of the company’s other business units you would still expect Shell to be generating plenty of cash to fund its dividend.
“Volumes in its liquefied natural gas business are expected to be higher and its oil products division is also performing well,” she added.
Shell also expects to load ships with between seven and 7.4m tonnes of LNG during the quarter, an increase from 6.8m tonnes in the previous three months.
Persimmon (PSN.L)
Housebuilder Persimmon shot up after the latest house price data showed a resilient market despite challenges.
UK house prices unexpectedly rose by 0.8% between February and March according to mortgage lender Halifax, owing to an easing of mortgage rates.
The rise marks a slowdown from the 2.1% growth registered in the previous month but was above City forecasts for a fall of 0.3%.
“But there is mounting evidence that the housing market is seemingly in a pendulum moment – swinging back in a buyer’s market direction,” Myron Jobson at Interactive Investor, warned.
Persimmon led gains among housebuilders listed in the UK’s blue chip index, rising 2%, ahead of Bellway (BWY.L) and Redrow (RDW.L). Barrat Developments (BDEV.L) bucked the trend and tumbled 0.25%.
Antofagasta (ANTO.L)
Antofagasta was leading the gains among miners as the sector was given a push from positive data coming out of China.
In China, the services purchasing managers’ index (PMI) climbed 2.8 points to 57.8 in March, the highest since June 2020. The composite survey showed improved overall new orders and operating conditions following the removal of Beijing’s zero-Covid policy. The new export orders measure hit its highest reading on record, after the lifting of restrictions on inbound visitors.
The Chilean copper miner was up by 1.41%, ahead of rivals Anglo American (AAL.L) and Rio Tinto (RIO.L).
Duncan Wrigley, chief China+ economist at Pantheon Macroeconomics, said: "Consumer services led China’s reopening rebound, as elsewhere in the world."
"But now the services rebound is broadening out. Business activity readings in the official PMI were over 60 for retail, rail, road and air transport, internet services, financial services and leasing and business services."
TUI (TUI.L)
Tui, one of the world’s biggest tourism groups, has seen its share price jump by 8% amid strong demand for sunshine destinations over Easter.
More than half a million people are going on holiday with Tui over Easter and its load factor is expected to be around 95% – in line with pre-COVID levels.
The FTSE 250-listed group said it expects over 500,000 customers to travel on holiday with them over Easter.
Tui’s chief executive, Sebastian Ebel, said: “Booking momentum remains encouraging, and the travel trends and strong demand for the Easter holidays are a healthy signal for the upcoming summer. Our products and strong brand are popular and in high demand – in the UK, Germany, the Netherlands, Belgium, Switzerland and many other markets where people are looking for relaxation in the sun and active experiences.
“Based on trends to date and as we have said in March, we continue to anticipate capacity to be close to pre-pandemic levels. We expect a good summer.”
The Canary Islands, Turkey, Balearics, mainland Spain, Egypt and Greece are the most popular destinations with TUI.
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