THE TIPSTER
EXPECTATIONS are high for Ryanair’s first quarter trading update that will be announced today. Its last update in June showed a 280 per cent jump in pre-tax profits for 2009. Back in June it announced that it expects growth to expand by 11 per cent in 2010. The airline is rarely out of the news whether it is smashing its own profit records or promoting the success of its aggressive pricing policy. Even the ash cloud is unlikely to have hurt profits. We expect to see more good news in the first quarter trading statement released on Tuesday. Cantor Index offers a spread on Ryanair of 374.5p-380.7p.
The shambles that was Prudential’s flirtation with AIG’s Asia operations has taken another twist with the announcement yesterday that Mark Tucker, who left Prudential last year, will be taking over as chief executive of AIA. With Tucker at the helm and an upcoming listing on the Hong Kong stock exchange, investors expect AIG to sell its AIA stake. Cantor Index offers a spread on AIG of $34.97-$35.12.
The euro has shrugged off concerns over sovereign debt worries after it was announced that Hungary will need to rely on external financing to service its massive debt mountain. The euro is now closing in on the $1.3000 level against the dollar. Capital CFDs quotes a price of $1.2962-$1.2963.
BHP Billiton updates the market with its latest set of results this week. Shares have performed well recently following the announcement that the proposed Australian mining tax was going to be less than originally thought. But watch out for the 1,865p level where there is decent resistance. Beyond that the 1,900p-1,940p area also looks likely to cap any upward moves in the short-term. Spread Co offers a spread on BHP Billiton of 1,815.1p-1,819.3p.