The last Friday before Christmas should be a quiet one, with dual-listed cruise operator Carnival (LON:CCL) the only scheduled trading update.
Broker Numis is expecting positive full-year results but reckons all of the good news is out there and priced in.
“Recent trading news flow in the sector has been favourable although concerns over terrorism are obviously currently elevated. At this stage, we find it difficult to see what Carnival can (or will) say that will act as a major catalyst,” the broker said.
Company guidance is for underlying earnings per share of US$2.56 to US$2.60, with the analysts that follow the stock generally plumping for numbers towards the top end of that range.
“There is a significant tailwind from low fuel prices and US consumer confidence has been improving, but the industry remains vulnerable to sentiment with regard to geo-political events which may have impacted regional booking trends. Overall, though, we believe there should not have been any major negatives from recent events,” Numis opined.
Significant announcements expected
Economic: Eurozone – Balance of payments, current account