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Shares in Carnival dive 11% in London on weak first quarter outlook

Shares in Carnival plc, the UK listed and domiciled holding company in the Carnival Corporation & plc group, fell close to 11% in London after the company had forecast a fall in first quarter earnings per share.

Carnival said the company expects adjusted earnings per share for the first quarter 2019 to be in the range of $0.40 to $0.44 versus 2018 adjusted earnings per share of $0.52.

Shortly before the market’s close, shares in Carnival plc traded at £38.77, a fall of10.83% since the opening, information on the London Stock Exchange website shows. This was also the session’s low.

At the same time, shares in Carnival Corporation, which is a Panama domiciled and US listed company, traded 10.02% lower at $49.80, finance data stream shows.

Leading share indices of both London and New York had fallen sharply during the day as the markets continue to reel from a rise in interest rates in the US, a weakening outlook for the global economy and a continued fall in the price of oil.




CBM 2018/2019 Winter