IAG, Ryanair and GAN

“The FTSE100 opened in negative territory following the pattern seen in early trade across Europe. Traders are increasingly focused on the forthcoming General Election and mulled last night’s televised interviews with the Conservatives' Theresa May and Labour's Jeremy Corbyn,” says AJ Bell Investment Director Russ Mould.

“British Airways parent International Consolidated Airlines Group was one of the biggest blue-chip fallers in early trading following the IT failure which caused Bank Holiday misery for thousands of passengers. The group’s shares were down by over 4% which was relatively modest given the scale of the problem.

“Budget airline Ryanair’s shares fell following cautious guidance for the year ahead. Ryanair’s after-tax profits rose by 6% in the year to the end of March but while customer numbers increased by 13% to 120 million, average fares fell by 13% to €41. Ryanair is cautiously guiding an 8% increase in net profits to a range of €1.40bn to €1.45bn for 2018 but investors should be wary of the risk of negative Brexit developments or any repeat of last year's security events at European cities which could damage consumer confidence. Ryanair’s shares were down by more than 2.8%.

“GAN, a leading B2B supplier of internet gaming enterprise software-as-a-service solutions to the US land-based casino industry, saw after-tax losses narrow to £3.8m in the year to the end of December from £5.0m in 2015. GAN continues to position its business to capture growth in emerging online gaming markets in the US and last year saw significant progress with its Simulated Gaming, together with a number of significant commercial and strategic developments. GAN’s shares were flat in early trading.”

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