International Consolidated Airlines Group
The biggest riser on the FTSE-100 this morning is IAG, the owner of airlines including British Airways and Iberia. The low cost competitor easyJet isn’t far behind either, but this is in response to the idea that a cease fire may now hold between Iran and Israel. Whether the market reaction is overblown remains to be seen, but at the other end of the board it’s the large petrochemicals plays such as BP and Shell that are lagging. In early trade, the IAG share price was up 7%, the easyJet share price was up more than 6%, BP was 5% lower and the Shell share price was down almost 4%.
A trading update from the housing services provider Mears has generated some interest in the stock this morning. The first half has seen solid growth in maintenance-led activities plus 100% contract retention over the last year and as a result, management are upgrading full year forecasts. Analys consensus had profits coming in at £50.9m but this figure is now expected to be no less than £54m. The Mears share price was around 4% higher shortly after the open.
There’s a lot of news and resulting share price movement flying around off the back of small cap companies adopting crypto asset treasury functions. TAO Alpha, the AI conversational technology company is just one example here and following significant investor demand after declaring its BTC treasury strategy last week, the company is proposing a further funding round by way of a CLN. The stock started last week at 1.05p and this morning tested highs above 27p although some of those gains have been given back already. The TAO Alpha share price is up 33% at 8.30am.
Most read news on Investegate this morning
Final Results for the year ended 31 March 2025 - - Telecom Plus (TEP)
Trading Statement - - Bunzl (BNZL)
Update on School Bus sale and FY25 Profit Guidance - - Mobico Group (MCG)
