Tuesday preview: Carnival, National Express, WSP

19th Dec 2011 15:49

Transport figures prominently on the results schedule on Tuesday with fourth quarter updates from cruise operator Carnival and train and bus operator National Express.Swiss bank UBS has been doing some research into cruise prices and according to its data, cruise prices for the Caribbean and Alaska have been stable in the year-to-date (YTD) for the 2012 cruising season, with Caribbean up slightly and Alaska essentially flat. "Our checks indicate, however, that Med cruises are down moderately YTD, with weakness first appearing in November," the broker adds."Weakness in November European bookings came from shoulder season sailings (April 2012), with sailings further out into '12 actually increasing in price during November. We note that month-to-date, bookings for European Summer '12 sailings (including April '12) have actually recovered from their November drop-off. Alaskan and Caribbean itineraries have remained consistent across almost all sailings since summer pricing adjustment," UBS reports.The Swiss bank is going for fourth quarter earnings per share (EPS) of 28 cents, which it says is bang in line with the market consensus, and slap in the middle of the company's guidance range of 26 - 30 cents. However, as UBS notes, fuel price movements since Carnival gave that guidance could trim 2 cents off the EPS but foreign exchange tailwinds could add back a penny of that.National Express updates on its fourth quarter, having had a decent third quarter, with revenues up 5% from a year earlier, as strong growth in the US and in UK Rail and Coach offset a more subdued performance in UK Bus.The year has not been so good for engineering consultant WSP, which issued a profit warning back in June. In November, it said it was trading in line with expectations, with little change in its markets since the first half. Shareholders will be hoping for signs of an end to challenging conditions in 2012 but they may be disappointed.INTERIM DIVIDEND PAYMENT DATEInvestec, RecordINTERNATIONAL ECONOMIC ANNOUNCEMENTSBuilding Permits (US) (13:30)GFK Consumer Confidence (GER) (07:00)Housing Starts (US) (13:30)IFO Business Climate (GER) (09:00)IFO Current Assessment (GER) (09:00)IFO Expectations (GER) (09:00)Producer Price Index (GER) (07:00)EGMSGlobaltrans Investment GDR (Reg S)AGMSBerkeley Mineral Resources, CIC Mining Resources, Gemfields, Henderson Far East Income Ltd., Independent Resources, JPMorgan Japanese Inv Trust, Keystone Inv Trust, Power Capital Global Ltd.TRADING ANNOUNCEMENTSNational Express Group, WSP GroupQ4 RESULTSCarnivalUK ECONOMIC ANNOUNCEMENTSCBI Distributive Trends Surveys (11:00)Consumer Confidence (09:30)GFK Consumer Confidence (00:01)FINAL DIVIDEND PAYMENT DATECVS Group