London Report: Banks lead FTSE to highest close in three weeks September 5, 2013 BRITAIN’S top share index marked a three-week closing high yesterday as Lloyds led banks higher in the sector’s strongest session in two months. Lloyds jumped 2.9 per cent after both Bernstein and Morgan Stanley gave a target share price of 100p for the bank, currently trading at 73p, as the British government prepares for its [...]
Letters to the editor – 06/09 – Defending Wonga, Green Deal, Best of Twitter September 5, 2013 Defending Wonga [Re: Wonga defends reputation as profits rocket, yesterday] Payday lenders mean different things to different people. For many on low incomes, they provide a cash bridge until pay day. For others, they are viewed as taking advantage of people in financial need. Those in the latter group are unlikely to have a need [...]
Europe fare war dents Ryanair’s profit forecasts September 4, 2013 AIRLINE shares took a nosedive yesterday after Ryanair, the biggest carrier in Europe, warned that it might miss profit targets for the year. The budget airline said a brewing price war in the UK and several other countries had dented its yields in recent weeks, as rivals try to tempt hard-up Europeans into taking more [...]
Analyst Views: Are you as disappointed as the market in Ryanair? September 4, 2013 STEPHEN FURLONG DAVY “Putting today’s announcement into perspective, the airline is still in line for a record second quarter and full year…. We continue to see Ryanair as one of the industry-leading players with a renewed growth story, higher and rising returns over the medium term and material free-cash generation. DONAL O’NEILL GOODBODY “This [...]
London Report: Blue chips end higher despite airline plunge September 4, 2013 THE FTSE top 100 steadied yesterday, paring early losses after a stronger open in the United States but dogged by an airline sector weakened by a profit warning from budget carrier Ryanair. The FTSE 100, which had been 0.6 per cent lower at midday, retraced its losses entirely in the first hour of trading on [...]
Before the open – 04/09 September 4, 2013 London's leading index, the FTSE 100, is expected to open flat this morning. #FTSE called flat to slightly up ahead of open, stocks to watch include Ryanair, Ashtead Group & Hargreaves Landsown. — Sales Traders CMC UK (@SalesTradersCMC) September 4, 2013 European services data is expected to show that sector order books have returned to [...]
Ryanair issues profit warning as weakness in Autumn season appears September 4, 2013 Budget airline Ryanair has issued a profit warning, announcing that it expects full year results to show profit at the lower end of the expected range of €570m to €600m (£482m to £508m). Full year traffic is also expected to come in lower at 81 million from 81.5 million previous. CEO Michael O'Leary said that [...]
Ryanair hits out at order to sell Aer Lingus stake August 28, 2013 THE COMPETITION Commission (CC) yesterday said it plans to force Ryanair to sell most of its stake in rival airline Aer Lingus, prompting a furious response from boss Michael O’Leary. The CC said yesterday that Ryanair must sell its 29.8 per cent stake down to five per cent, confirming its finding in May that the [...]
Ryanair to appeal against Competition Commission ruling August 28, 2013 The chief executive of budget airliner Ryanair has said it will appeal against today's report from the UK Competition Commission’s (UKCC) saying that its minority shareholding in Aer Lingus has led to a "substantial lessening of competition" between the airlines on routes between the UK and Ireland. The UKCC said this morning that Ryanair will [...]
Competition Commission orders Ryanair to sell off Aer Lingus stake August 28, 2013 The Competition Commission has confirmed that budget airline Ryanair will need to reduce its 29.8 per cent stake in Aer Lingus to just five per cent. In its final report published today, the CC confirmed its provisional findings that Ryanair’s minority shareholding had led or may be expected to lead to a substantial lessening of [...]