Thomas Cook shares up ahead of City update

<p>Thomas Cook stocks rose with a City update due tomorrow.</p>

Shares in Thomas Cook were up today (March 12th) ahead of a City update due tomorrow from the holiday company.

Its stocks were up by more than six per cent as the markets prepared for the firm to announce a bullish set of results, reports the Evening Standard.

Chief executive Harriet Green is expected to be happy with the progress being made by the company and this will be announced at its Capital Markets Day tomorrow.

Analysts at Bank of America Merrill Lynch upgraded their forecasts and now believe margins will recover to around three per cent by 2015.

It is just a few days since Thomas Cook announced a new round of cuts – including 2,500 job losses – in a bid to improve its financial situation.

At 16:00 GMT this afternoon, the share price of Thomas Cook stood up five points at 88.00, which is approaching its 52-week high of 97.38.

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