It’s a big week in UK markets with the country set to pick ANOTHER new Prime Minister, while some of the biggest banks, including Barclays (BARC), will report earnings. In addition, travel-related stocks International Consolidated Airlines (IAG) and PPHE Hotel Group (PPH) will also post results.
- Barclays is set to post third-quarter results on Wednesday, October 26.
- Despite rising interest rates, Barclays shares are down more than 24% in 2022.
- Barclays shares fell last week Wednesday on reports that new UK chancellor Jeremy Hunt is plotting windfall taxes targeting banks and energy companies.
PPHE Hotel Group
- PPHE Hotel Group, which has the majority of its properties under four brands, Park Plaza, art’otel, Arena Hotels & Apartments and Arena Campsites, is scheduled to release third-quarter results on Thursday, October 27.
- Travel demand is strong, according to related companies, while competitor IHG reported last week that revenues per available room (RevPAR) increased 28% year on year in the third quarter.
- While Google Trends shows search interest for hotels has declined since August as the summer came to a close, it is still well above pandemic levels.
International Consolidated Airlines (IAG)
- IAG is expected to report third-quarter results on Friday, October 28.
- The company was one of our stocks to watch last week, closing higher (although it dipped almost 2% Friday), and is one of our long-term favourites.
- IAG released preliminary Q3 results earlier this month, causing its shares to jump, as it said profits that were stronger than anticipated during the crucial summer season and forward bookings showed no signs of weakness.