A higher oil price can be viewed as a tax on economic growth. For all the talk of a transition away from fossil fuels, oil is still key to powering the global economy and prices above $100 per barrel push up the costs for everyone, from the humble motorist at the pump to the largest global business. There has been a bit of a respite on this front lately, even if Brent, the global benchmark for ...

The UK’s airline industry is facing another slap in the face with hundreds of flights cancelled because of widespread Covid staff sickness, hiking the risk that prolonged disruption could impact revenue and profit. Budget flyer EasyJet (EZJ) axed 222 flights during the weekend of 2 and 3 April 2022, with another rough 60 flights to and from the UK grounded on 5 April following 62 ...

So much for a return to clear skies for airlines, with Russia closing its airspace in a tit-for-tat response to the UK’s ban on Aeroflot as part of its package of sanctions on Russia. Even so, British Airways-owner for International Consolidated Airlines (IAG) is still confident that it can return to operating profit in 2022 with positive net cash flows. Capacity is expected to get back ...

European stock markets are running scared as tensions mount between Russia and Ukraine with war becoming increasingly likely. German chancellor Olaf Scholz is flying to Kiev and Moscow to try to pull both nations back from the precipice, yet the US says war could start within days. Throw in the rising interest rates cycle and the US registering the highest headline inflation number in over 40 ...

There’s little doubt that investors see 2022 as being the year that travel gets its mojo back, at least when it comes to Europe. While US airlines made decent headway in 2021 largely thanks to continued demand for domestic flights, European airlines have been hampered by complex travel restrictions which seemed to chop and change with little rhyme or reason. Omicron’s later arrival to US ...

Leading UK shares have shrugged-off concerns currently upsetting Wall Street as expectations grow that the Federal Reserve will act more swiftly than previously predicted to try and tame rampant inflation. At the same time, tensions between Ukraine and Russia continue to grow, adding another volatile factor into the mix. At 9am, the benchmark FTSE 100 is close on 1.5% ahead at 7,479.13, not far ...

Do it yourself investors are taking on the professionals in record numbers and many are beating fund manager professionals. The number of people investing their own money has boomed during the pandemic thanks to low-cost platforms giving people easy and cheap access to the stock market. In 2021, DIY investor numbers hit seven million for the first time, according to research firm Boring ...

After nearly two years of heavy losses, the travel sector is showing serious signs of bouncing back, despite the ongoing drag of the Omicron variant. Increased vaccination rates, pent-up demand and accumulated savings are helping to spur demand for global tourism nations roll back border restrictions. Organisations from across the travel industry welcomed the UK Government’s decision to ...

Major UK shares enjoyed a strong start on day one of 2022 trading as investors anticipate a brighter outlook for the global economy in the New Year as fears of the Omicron variant fade. At the close, the UK benchmark FTSE 100 rose more than 1.6% to finish above the 7,5000 mark at 7,505.15, with a reopening trade firmly in effect. BA-owner International Consolidated Airlines’ (IAG) led the ...

London’s leading shares continued their strong start to the New Year at lunchtime, showing little reaction to this morning’s UK manufacturing purchasing managers’ index, which was little changed from November’s reading. The seasonally adjusted IHS Markit/CIPS PMI was 57.9 in December, little changed from November’s three-month high of 58.1. A value above 50 indicates expansion and the ...

London’s FTSE 100 started 2022 on the front foot, led by travel, leisure and energy stocks as investors attempted to move on from worries about the economic impact of the Omicron variant. Gains for oil firms, airlines and hotel, pub and restaurant plays reflected diminishing concerns over the latest Covid variant amid hopes it is milder, if more transmissible, and therefore may have a limited ...

Airline stocks rose sharply in trading on Thursday (23 December) as a number of Omicron studies offered the sector a much-needed injection of confidence that more travel restrictions will not be needed in the near-term. Initial findings from four separate Omicron studies were released on 22 December, two from the UK, one from South Africa, and another from Denmark. All offered an optimistic ...

London’s FTSE 100 edged 0.21% higher to 7,356.94 points on the last full trading day before Christmas, as investors welcomed news that the Omicron variant may not be as severe as previous strains. Citing data from an Oxford University laboratory study, drugs giant AstraZeneca (AZN) said a three dose course of its Covid-19 vaccine is effective against the highly transmissible new ...

UK stocks closed near the high of the day on Tuesday as risk appetite returned and investors looked through the current wave of virus infections. Notable gains were seen across the travel sector with British Airways owner International Consolidated Airlines (IAG) and low budget airline Wizz Air (WIZZ) shares up 6% and 4% respectively. Hospitality was given a boost the Chancellor announced a ...

Stock markets hate uncertainty, and the arrival of Omicron has created an information vacuum which is likely to persist until scientists and economists get to grips with the likely health and economic effects caused by the latest variant of concern. On 26 November, the so-called fear gauge, the VIX index, spiked higher as investors scrambled to hedge their portfolios, sending US markets down by ...

The FTSE 100 nudged into positive territory on Friday in a muted end to the week, with big oil helping to offset falls in commodity-related stocks. BP (BP.) and Royal Dutch Shell (RDSB) rose 1.7% and 1.3% to 342.4p and £16.514 respectively, tracking firmer crude prices after OPEC+ said it would review supply additions ahead of its next scheduled meeting if the Omicron variant dents ...

UK stocks rallied on Wednesday, regaining much of the previous day's losses along with European and US markets as fears surrounding the latest Covid strain eased. Travel and leisure stocks International Consolidated Airlines  (IAG) and Whitbread (WTB) traded higher, while energy stocks BP (BP.) and Royal Dutch Shell (RDSB) were also well bid as oil prices rebounded. Telecom firm BT ...

UK stocks rallied on Wednesday despite US stocks falling overnight after Federal Reserve chair Jerome Powell suggested inflation was no longer transitory and hinted that tapering of financial stimulus would have to go ahead no matter the impact of the Omicron variant of Covid-19. Travel and leisure stocks International Consolidated Airlines  (IAG) and Whitbread (WTB) were the top ...

Airline passenger numbers are already starting to dry up in reaction to the Omicron scare, according to latest commentary from EasyJet (EZJ), news that will worry investors and dragged on sector share prices. Shares in EasyJet lost 1.6% at 494.5p as of midday Tuesday, with BA-owner International Consolidated Airlines (IAG) and Wizz Air (WIZZ), the FTSE 250 Europe-based discount carrier, also ...

London’s FTSE 100 slumped on Friday morning, led by sharp falls in travel and leisure stocks after the UK re-imposed travel restrictions on several African countries following a potentially more infectious strain of Covid-19. At 08:58 am, the blue chip benchmark was down 200 points, or 2.74%, to 7,110.22 with aero-engineer Rolls-Royce (RR.), British Airways-owner International Consolidated ...