THE TIPSTER TURBULENCE MAY BE OVER FOR RYANAIR
WE are still in earnings season, which means that shares and indices are subject to plenty of daily moves. Irish airline Ryanair had a turbulent time in October with its share price tumbling from €3.50 to below €3.00 so investors will be looking for some good news when it releases second quarter numbers today. The recent fall could present a buying opportunity, particularly if its numbers surprise to the upside and further evidence suggests the global economy is rebounding. Capital Spreads quotes a price of €2.96-€3.00.
Clothing retailer Next is giving its trading update on Wednesday and after a year where it has had its fair share of struggles with sales figures amid the downturn, the latest trading update should give an indication of whether sales may pick up in the run-up to Christmas. This could boost the firm’s share price, which has been on a steady increase over the past 12 months, rising from lows of below 900p in November last year to levels around 1,818p on Friday.
ShortsandLongs.com has a rolling spread of 1,814.10p-1,818.90p.
Small cap oil and gas explorer Bowleven reports final year results today, which might be good enough to propel the stock out of its 84p-96p trading range, where it has been stuck for the past two months. High commodity prices should help with margins, and investors will also be watching for progress in West Africa and an update on cash levels. Spreadex has a December-based contract with a spread of 87.7p-89.5p.
Looking further afield, there have been suggestions that the Indian economy is close to exiting recession, increasing speculation that the country will soon end its ultra-loose monetary policy. Although the prospect of better cash yields has dented short-term confidence in the Nifty 50, this optimism has the potential to make the longer-term outlook rather upbeat. The current IG Index price on the India 50 is 4,764-4,771.