Is it still coming home?
As tonight’s (last night’s) odds were stacked – around 8/11 – in England’s favour the likes of Ladbrokes will have a cheeky payday if the Euro 2020 adventure falters (faltered), nonetheless, the bookies will no doubt want another big game too.
Whilst its punters celebrate winning (mourn losses) Ladbrokes parent Entain PLC will meanwhile spend Thursday morning releasing a trading update.
Elsewhere, another name in the day’s diary is among those with a financial interest in the England result.
Like all pub operators Fuller, Smith and Turner (LON:FSTA) could do with the support as they cling to a covid recovery and what better boon than a championship final on Sunday.
Entain hopes betting cash is coming home
Investors will likely get an update on how Entain PLC’s (LON:ENT) business has been performing in the Euros, especially how much cash the bookmaker has managed to rake in.
On the sports book, England’s unexpected triumph over Germany may have cost the firm a bit. But, on the flipside, France’s surprise loss to Switzerland could have offset any losses, with the company having flagged that around half of UK punters had put their money on the French team to win the tournament outright.
Investors will be eagerly watching for an update on betting numbers.
Jet2 flies in with finals
Package holiday provider and budget airline Jet2 PLC (LON:JET2) will report its final results on Thursday, however, given the last year has been a torrid one for the travel industry investors are more likely to be looking at the group’s outlook statement and how it expects things to shape up as travel restrictions show signs of easing.
In a trading update back in April, the company already flagged the key figures for the year are unlikely to make for happy reading, reporting a loss for the year to March 31 of between £375-385mln, swinging from a £264.2mln profit in the prior year. However, it added it raised almost £1bn in liquidity during the year to mitigate the pandemic’s impacts alongside measures to reduce cash burn.
Jet2 also said it has been “encouraged” by the volume of customer bookings for its flights in the winter 2021 and summer 2022 seasons, so shareholders will be hoping this trend has continued and how well the group has fared since lifting a suspension on flights last Wednesday.
Thursday July 8
Trading announcements: Entain PLC (LON:ENT), Persimmon PLC (LON:PSN), B&M European Value Retail SA (LON:BME), Electrocomponents PLC (LON:ECM), Grafton Group PLC (LON:GFTU)
Finals: Jet2 PLC (LON:JET2), Fuller, Smith and Turner (LON:FSTA), Watches of Switzerland Group PLC (LON:WOSG)
FTSE 100 ex-dividends to knock 5.1 points off the index: British American Tobacco PLC (LON:BATS), Coca-Cola HBC AG (LON:CCH), AVEVA Group PLC (LON:AVV), Halma PLC (LON:HLMA)
Economic data: US jobless claims