U.S.-Japan trade pact; Alphabet, Tesla to report - what’s moving markets
Investing.com -- British stocks slipped on Monday amid a wider drop in European markets, while the pound continued its rally against a weak dollar.
As of 1210 GMT, the blue-chip index FTSE 100 dropped 0.1 % and the British pound gained 0.5% against the dollar to above 1.34.
DAX index in Germany slipped 0.1%, the CAC 40 in France dropped 0.4%.
Ryanair (LON:0RYA) shares soar after Q1 profit doubles
Ryanair (IR:RYA) shares rose 5% after the airline reported a first-quarter profit of €820 million, exceeding analyst expectations by more than €100 million.
The profit marked a 128% increase from €360 million in the same period a year earlier. The strong performance was driven by higher fares and tight cost control.
Ryanair’s average fares increased by 21%, while passenger traffic rose 4% to 57.9 million during the quarter. Revenue climbed 20% to €4.34 billion, with scheduled revenues up 26% to €2.94 billion and ancillary revenues growing 7% to €1.39 billion.
Mony Group reports rise in H1 adjusted EPS, maintains guidance
Mony Group plc reported a 4% increase in adjusted basic earnings per share to 9.3p for the six months ended June 30, compared to 8.9p in the same period last year.
The British company raised its interim dividend by 1% to 3.3p per share and maintained its full-year adjusted EBITDA guidance within its previously published range of £137 million to £150 million.
Group revenue grew 1% to £225.3 million during the first half of the year, while adjusted EBITDA increased 2% to £75.1 million. Profit after tax rose to £45.6 million from £44.1 million in the comparable period. Basic earnings per share increased to 8.6p from 8.3p a year earlier.
Hamptons cuts U.K. 2025 rental growth forecast as demand cools
Hamptons has reduced its forecast for 2025 rental growth in Britain to 1% from 4.5% as rental demand slows more than anticipated, the company announced Monday.
The property company attributed the cooling demand to falling mortgage rates, which have enabled renters, particularly more affluent ones, to purchase homes instead of continuing to rent.
Data from Hamptons showed that rents on newly-let properties across Britain increased by just 0.4% year-on-year in June, marking the slowest growth rate since August 2020.
U.K. online market for used goods set to hit £4.8 billion
New research by the Centre for Economics and Business Research shows that last year, two-thirds of U.K. shoppers bought second-hand products online.
Commissioned by Amazon (NASDAQ:AMZN), the study highlights the fast-growing demand for pre-owned goods in the UK.
Sales in this sector are expected to climb to £4.8 billion in 2025, up from £4.3 billion in 2024.