Ryanair, Distil and Legal & General

“The FTSE 100 slipped back in early trading following mixed messages in Asia with investors looking to the G7 summit for clues over the path for global economic growth while uncertainty over the EU referendum continues to weigh on sentiment,” says AJ Bell Investment Director Russ Mould. 

“Ryanair has thrown down the gauntlet to its budget airline rivals promising further cuts in air fares as it bids to maintain its market share. Ryanair’s fourth quarter sales were hit by a combination by more than 500 flight cancellations following terrorist attacks in Brussels and air traffic control strikes in France. 

Ryanair’s passenger numbers rose by 18% in the year to March and it cut average fares by 1% as it passed on fuel savings. And it will making further cuts this year.

“Investors raised a glass to Distil after its RedLeg Spiced Rum was approved for sale in the US by the Alcohol and Tobacco Tax and Trade Bureau. This follows approval for the group’s Blavod Black Vodka and Blackwoods Gin last year. Distil is now looking to expand its US operations through the introduction of what has been the company's most prominent brand in recent times.

“Legal & General continues to build its annuities business with the acquisition of a £3bn portfolio from Dutch insurer Aegon. L&G’s retirement arm has written around £550m of total annuities this year in addition to the Aegon transaction and last year completed £2.4bn of bulk annuity deals.”

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