Tata Motors (TATAMOTORS.NS)

Shares of Tata Motors closed higher in India ahead of the car manufacturer’s quarterly results.

Tata Motors' revenue growth for the quarter is expected to be bolstered by strong volume increases in its JLR (Jaguar Land Rover) and Commercial Vehicle segments, despite a weaker performance in the PV Passenger Vehicles sector.

Revenue is projected to increase by 6% year-on-year, based on the average estimates from brokerages, figures first reported in local media. Net profit is expected to grow by 48% year-on-year.

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The company, India's largest electric vehicle (EV) player in India, also received a boost in trading amid reports that the country is set to announce new measures to increase EV adoption.

TUI (TUI1.DE)

TUI, Europe’s biggest holiday company, beat third-quarter operating profit expectations thanks to strong summer travel demand.

In the three months to 30 June, TUI’s underlying earnings before interest and tax came in at to €232m (￡199m), up 37% from €169m a year earlier. Net debt improved, declining from €3.1bn in Q2 2024 to €2.1bn.

Revenues increased by nearly 10% to €5.8bn, driven by a 5.5% increase in Q3 passenger numbers from 5.5 million to 5.8 million. For the summer of 2024, TUI has seen robust booking performance, with 88% of the programme sold compared to 60% previously.

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The company also reiterated guidance for a 25% rise in operating profit this year and 10% increase in revenues.

TUI said bookings did not slow despite higher prices for its flights and packages, up 3% year-on-year.

The company's cruises segment also reported another good quarter with higher occupancy, higher rates, and average fares increasing by 7%.

TUI Group CEO Sebastian Ebel said: “This also demonstrates the strength and future viability of our business model. We are growing profitably and are delivering what we have announced.”

The German group recently switched its listing from London to Frankfurt but maintains a large customer base in Britain and saw a boost from the insolvency of competitor FTI.

UBS (UBSG.SW)

Shares in UBS rose by over 3% as Switzerland’s largest bank posted a net profit of $1.1bn (￡857m) for the second quarter, comfortably surpassing analysts’ forecasts.

Net profit attributable to shareholders came in at $1.136bn for the period, versus a company-compiled consensus forecast of $528m.

Profit was still lower than the $1.755 reported in the first quarter, as expected by analysts.