STOCKS TO WATCH: Russians are coming – with Tui in their sights

STOCKS TO WATCH: The Russians are coming – with travel firm Tui in their sights


The picture for travel firms finally appears to be improving as restrictions ease and families are tempted to make a dash abroad for some sun. 

However, Tui’s stock has tumbled in recent weeks and that appears to have enticed its largest shareholder into action. 

Russian steel tycoon Alexei Mordashov recently splashed out around £3.8million more on its stock, taking his family’s holding to 32 per cent, up from 25 per cent last year, at around £1.2billion. 

In the frame: Tui’s stock has tumbled in recent weeks and that appears to have enticed its largest shareholder into action

The share purchase brings his family’s holding closer to the 36 per cent they are allowed to retain without making a takeover bid under rules tweaked as part of Tui’s German state-backed bailout last year. 

Mordashov’s clan also own gold miner Nordgold, which last month postponed a London listing. 

Could they be tempted to make a swoop for Tui instead?

Questions ahead of BT AGM 

Pass the popcorn for BT’s annual meeting this week. The telecom giant’s resolutions are all likely to be passed so the main focus at the largely virtual event will be the personalities on display.

It will be the swansong of departing chairman Jan du Plessis, appearing alongside pugnacious boss Philip Jansen after rumours of tensions. 

The shareholder event will be the first since notorious FrenchIsraeli billionaire Patrick Drahi appeared on the register last month with a 12 per cent stake through his Altice vehicle. 

So far he’s been outwardly supportive of Jansen and his strategy, but City gossips are busily guessing his intentions. 

Surely the investor meeting will be the perfect stage for Drahi to speak out. 

Verditek  issuing ‘green’ bond to raise £500,000 

Stock market-listed tiddler Verditek, a solar panel maker chaired by former Tory Minister Lord Willetts, is issuing a ‘green’ bond to raise £500,000. 

Amid the stampede by fund managers to invest in ‘Environmental, Social and Governance’ stocks, the firm is offering a 7 per cent yield on the two-year bond, which is being issued through crowdfunding platform Crowd for Angels and will help expand its facilities in Italy. 

The stock hit highs of 18p last year, but is currently languishing at just 2.4p. 

Bank shares in spotlight 

Bank shares will be in the spotlight this week as the Bank of England’s Prudential Regulation Authority is set to remove caps on dividends. 

Analysts have raised divi forecasts and price targets for big guns including Barclays, Lloyds and NatWest. 

Meanwhile, there’s a payout in the offing at minnow Manx Financial. 

The AIM-listed lender is set to declare its first dividend, further enriching Arron Banks, one of the self-styled Bad Boys of Brexit, who should land £29,000 on his investment in Manx, which is run by billionaire Brexit-backer Jim Mellon – the man who reportedly introduced him to one Nigel Farage.