Ryanair shares jump 6% after strong profit report
Ryanair’s stocks in Ireland rose about 6% during morning trading following their report of €820 million ($954 million) in post-tax profits for the first quarter. This figure significantly outperformed the predicted €716 million based on analyst forecasts by LSEG.
Analyst Charles Armitage noted in a memo that the results were “very strong,” emphasizing the positive commentary regarding fares for the airline throughout the upcoming year.
Ryanair’s stock performance can be tracked through various sources.
European markets show mixed results
European stock markets opened cautiously higher. The CAC40 and Germany’s DAX both saw gains of about 0.1%. However, by 8:10 AM in London, the Stoxx 600 index had reversed to flat trading.
Meanwhile, auto sector stocks dipped by 0.6%. Stellantis, for instance, is projecting a net loss of €2.7 billion ($2.68 billion) for the first half due to pre-tax costs and initial effects of tariffs imposed by the U.S.
BP appoints Albert Manifold as new chairman
On Monday, British oil giant BP appointed Albert Manifold as its new chairman, succeeding Helzi Land. The firm is currently under scrutiny for potential takeover interests. Manifold will join the board on September 1st and officially take over as chairman on October 1st.
Prior to this, he was the CEO of CRH, which is recognized as the world’s largest building materials company, until the end of last year.
Ryanair sees significant profit increase in first quarter
The low-cost airline Ryanair announced a post-tax profit of €820 million ($954 million) for the first quarter, up from €360 million a year earlier. This news was revealed on Monday.
Revenues surged by 20% year-on-year to €4.34 billion, while additional revenue from services like seating selection and food increased by 7% to €13.9 billion.
Ryanair’s expansion has faced hurdles recently, primarily due to delays in receiving new Boeing 737 aircraft amidst strikes and safety issues in the U.S. manufacturing sector. Ryanair’s CEO, Michael O’Leary, previously warned about potentially canceling aircraft orders if a tariff war escalated between the U.S. and the EU, causing price hikes.
On another note, the airline anticipates certification for the MAX-10 aircraft variant by the second half of 2025, with plans for initial deliveries in spring 2027 and a total of 300 aircraft expected by March 2034. O’Leary expressed cautious optimism about the company’s future revenue growth, albeit he mentioned that it’s still early for definitive profit predictions.
CNBC Pro: Bitcoin anticipated to rise further
Following an eventful week, Bitcoin sustained its upward momentum on Monday. As of 12:16 PM Singapore time, the cryptocurrency increased by 0.21%, reaching $118,368.56.
Market analysts from CNBC Pro suggest maintaining a positive outlook on Bitcoin, with indications that it could continue climbing for the remainder of the year.
Opening call for the market
Good morning from London. This live blog covers significant developments in the European financial markets on Monday. Futures data indicates a negative opening for European stocks, with the CAC40 down by 0.3%, Germany’s DAX decreasing by 0.4%, and Italy’s FTSE MIB dropping by 0.35%.
The European market has been particularly volatile since U.S. President Donald Trump announced a 30% tariff on EU imports set to start in August. The EU had hoped for negotiated trade agreements, but progress has been slow.
On Sunday, U.S. Secretary of Commerce Howard Lutnick reiterated the urgency for states to start paying these tariffs, although he added that talks can continue after implementation.
