Ryanair lags rivals as Covid-19 vaccine hopes buoy markets

Brexit worries remain but hopes of trade deal rise

Ryanair finished the day up 4.9% but was lagging somewhat across the sector. Photograph: Paul Faith/AFP via Getty

Ryanair finished the day up 4.9% but was lagging somewhat across the sector. Photograph: Paul Faith/AFP via Getty


Hopes for a deal in the Brexit negotiations as well as for progress in the hunt for a vaccine to the Covid-19 pandemic buoyed global markets on Tuesday, although it was not all plain sailing.


It was a relatively quiet day on Euronext Dublin, which finished flat on the day while volumes were down 22 per cent compared with the 20-day average.

The airlines were buoyed by positive news on the Covid-19 vaccine front as pharma company Moderna said it was expecting interim results on a trial next month.

Ryanair finished the day up 4.9 per cent but was lagging somewhat across the sector with Easyjet up 5.7 per cent and Aer Lingus parent International Airlines Group up 6.6 per cent.

In gambling, Paddy Power Betfair owner Flutter was down about 60 basis points, making it a slight outperformer in the sector.

Elsewhere, Kerry Group was up 1 per cent, while, in banking, AIB was up 50 basis points and Bank of Ireland was up 60 basis points.

In the construction sector, building material company C&C finished the day up 1.5 per cent, while there were mixed fortunes for home builders Glenveagh Properties and Cairn Homes, which finished down 2 per cent and up 4.8 per cent respectively.

Dalata, the biggest hotel operator in the State, ended the day down more than 3 per cent following news that hotels are to be shut once again due to Covid-19 lockdown measures.


London stocks closed higher on Tuesday as investors remained hopeful of a trade deal with the European Union by year-end, although gains were capped by concerns over tougher coronavirus lockdowns in parts of England.

The blue-chip Ftse 100 closed 0.1 per cent up, led by personal goods makers, food and drug retailers, real estate investment trusts and travel and leisure stocks.

The domestically focused mid-cap Ftse 250 ended 0.4 per cent higher, boosted by soft drinks maker Britvic, which jumped 6.4 per cent as it forecast annual adjusted operating profit ahead of market expectations.

In company news, airlines group IAG rose 6.9 per cent as rapid outbound Covid-19 testing for passengers was launched at London’s Heathrow Airport in an effort to reopen restricted routes and boost traffic for airlines.

Bellway fell 3.7 per cent after the home builder reported a 64.3 per cent drop in annual pre-tax profit.

Petra Diamonds tumbled 17 per cent after the diamond miner abandoned plans to sell the business in favour of a debt-for-equity restructuring.


European stocks fell as worries about coronavirus curbs and Brexit countered optimism generated by strong earnings, including from Swiss bank UBS and consumer giant Reckitt Benckiser.

Italy, Spain and Britain imposed curbs to limit the spread of new coronavirus cases, which threaten to derail a budding economic recovery.

The pan-region Stoxx 600 has recovered about 35 per cent from a pandemic-panic plunge in March, but is struggling to reach pre-crisis levels, plateauing as the second-wave of the disease grips. On Tuesday, the index closed down 0.35 per cent.

Earnings were a bright spot. UBS rose 2.7 per cent as it posted a 99 per cent jump in quarterly profit, while computer peripherals maker Logitech International gained 16 per cent after it raised its full-year forecast.

Swedish telecoms operator Tele2 fell 4.7 per cent after it stuck to its outlook for roughly unchanged operating profit in 2020.


Wall Street’s main indexes rose as investors hoped for more stimulus from Washington, with Senate Republicans preparing to vote on a Bill to help small businesses hammered by the Covid-19 pandemic.

Uncertainty over the fiscal stimulus weighed on Wall Street’s main indexes on Monday and analysts expect market turbulence to increase with only two weeks left until election day.

Property and casualty insurer Travelers Cos gained 3.7 per cent as it beat quarterly profit expectations, while consumer products giant Procter & Gamble advanced 1.2 per cent as it raised its full-year sales and earnings forecast.

All 11 major S&P sectors were up with financials tracking US Treasury yields. Netflix dipped 1 per cent ahead of its third-quarter earnings report.