The holiday airline and tour operator Jet2 published a full year trading update this morning which delivered a performance that was in line with expectations, but this was accompanied by news of a £250m share buyback that has seen the stock gain altitude. Management note that passengers are continuing to hold off from making bookings, reflecting the broader economic uncertainty, but they remain confident over the prospects for the key summer season. The Jet2 share price was up more than 12% in early trade.
Banking giant HSBC published Q1 numbers overnight and despite impairment provisions being upped to mitigate against slowing global trade, profits still came in well ahead of expectations. The bank also announced a further $3bn share buyback, which was sufficient to send HSBC shares up just over 2% shortly after the open.
Insurers Beazley issued a trading update this morning and despite there being no real surprises in the numbers here, investors have given the news a cool response. One potential area of concern is the acknowledgement that markets softened as expected during Q1 with premium rates on renewal business decreasing by 4%. The Beazley share price was almost 6% lower by 8.20am.
Most read news on Investegate this morning
FY 2024 results and Q1 trading statement - - THG (THG)
Q1 Trading Update - - Entain (ENT)
Results for the year ended 31 December 2024 - - Warpaint London (W7L)
