With the ceasefire in the Middle East looking increasingly fragile, airline stocks have had a difficult start to the week with low cost operator Wizz Air being one of the biggest fallers in London. The volatility here is potentially exaggerated by the Hungarian election result from the weekend – the airline is based in Budapest – although it’s difficult to see how beyond the usual round of very short term uncertainty associated with an orderly regime change why the airline ought to explicitly underperform. The Wizz Air share price was down 6% in early trade, whilst peers IAG and easyJet were 3% and 4% lower respectively.
It’s been a quiet morning for corporate news releases so keeping with the geopolitical theme, shares in BP found themselves leading the FTSE-100 blue chip index. Clearly the US threat to now blockade the Straits of Hormuz that it had been lobbying to open does little for the availability of petrochemicals globally and that’s pushing up oil prices once again. US Crude jumped around 6% over the weekend and that’s going to support the wider sector, at least in the short term. The BP share price was up as much as 3% shortly after the open.
The currency management company Wise issued a Q4 update today, noting that volumes were 27% higher whilst customer numbers added 22%. Management continue to expect full year pre-tax profits to come in at the upper end of the previously forecast 13%-16% range. The plan to move the company’s primary listing to the US also remains on track and the Wise share price was up almost 6% by 8.40am.
Most read news on Investegate this morning
Appointment of Chief Executive Officer - - Vistry Group (VTY)
Q4 FY2026 Trading Update - - Wise Class A (WISE)
Farm down of Namibian portfolio to BP - - Eco (Atlantic) Oil & Gas NPV (DI) (ECO)
