Holidays, shoes and inns

Blue-chips were down in early trading following a fairly uninspiring overnight session on Wall Street, while Asian markets were mixed.

“Thomas Cook has maintained its full year guidance and believes it is well positioned in a challenging market but investors are not as certain with the travel firm’s shares slumping in early trading,” says AJ Bell Investment Director Russ Mould.

“Thomas Cook has seen a slowdown in summer holiday bookings due to volatility in key markets amid ongoing security concerns. Its maintained guidance depends on a sustained recovery in customer confidence as the season progresses. Investors, though, seem less convinced that this will happen.

“Luxury fashion retailer Jimmy Choo’s growth has been driven by burgeoning demand in Asia. The group’s total revenues were up 7.2% with sales in Asia rising by over 20%. The main driver continues to be shoes which represent more than three-quarters of sales while accessories remained stable.

“Enterprise Inns topped the FTSE250 list as progress on its strategic plan continues ‘at pace’. The group’s like-for-like net income is up 1.5% and the reinvigoration of the leased and tenanted estate continues with the planned launch of a new deal for publicans.”

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