Serco, Dixons Carphone and TUI

“The FTSE 100 slipped back in early trading with UK Prime Minister Theresa May heading to the House of Commons today to address divided MPs over the latest amendments to the European Union withdrawal bill,” says AJ Bell Investment Director Russ Mould.

“Serco led the FTSE 250 on its expectation that full year profits would be at the top end of guidance and forecasts of further growth next year and in 2019. Order intake this year has been strong at over £3bn and the group has agreed to acquire the major part of Carillion's health facilities management portfolio which will add around £1bn into the order book. Serco’s shares were up by more than 13.6% in early trading.

“Dixons Carphone’s shares rose in early trading despite a slump in first half profits. The figures were skewed by one-off charges and investors were encouraged by the strong start to the group’s peak trading period with record Black Friday sales and the board’s pledge to maintain the full year dividend. The group is also taking action to reposition the UK mobile business to increase its profitability. Dixons Carphone’s shares were up by over 4.5%.

“Holiday giant TUI topped the blue-chip board after profits jumped following a surge in bookings across Europe, although cash-strapped Brits seem to be staying at home. Demand for the group’s holidays, hotels and cruises remains strong and while winter booking volumes have fallen by 3% in the UK, this has been offset by stronger volumes in Germany, the Nordics and Benelux. TUI’s shares were up by more than 1.9%.”

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