Less Ads, More Data, More Tools Register for FREE

Pin to quick picksWizz Air Share News (WIZZ)

Share Price Information for Wizz Air (WIZZ)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 2,410.00
Bid: 2,434.00
Ask: 2,438.00
Change: -82.00 (-3.29%)
Spread: 4.00 (0.164%)
Open: 2,484.00
High: 2,504.00
Low: 2,392.00
Prev. Close: 2,492.00
WIZZ Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET MIDDAY: Stocks firm as expected Fed pause still in doubt

Mon, 12th Jun 2023 12:08

(Alliance News) - Stock prices in London were tentatively higher at midday on Monday, as investors looked ahead to a key US inflation print on Tuesday with some caution ahead of the Federal Reserve's next interest rate decision.

The FTSE 100 index was up 1.14 points at 7,563.50. The FTSE 250 was up 81.11 points, or 0.4%, at 19,172.77 and the AIM All-Share up 0.75 of a point, or 0.1%, at 794.09.

The Cboe UK 100 was flat at 754.16, the Cboe UK 250 was up 0.5% at 16,716.28, and the Cboe Small Companies was up 0.1% at 13,227.55.

The US Federal Reserve will announce its next interest rate decision on Wednesday. Markets see a 76% chance of the central bank holding US interest rates steady, with the balance expecting another 25 basis point hike, according to the CME FedWatch Tool.

Russ Mould, investment director at AJ Bell, warned that a "last-minute shift in the plan" cannot be ruled out, however, given the Fed is taking a "data-driven approach" and the latest US inflation figures are out on Tuesday.

"A higher-than-expected number could set the cat among the pigeons," he said.

According to FXStreet-cited consensus, the annual US inflation rate is expected to have cooled to 4.1% in May from 4.9% in April. This remains double the Fed's 2% target, however.

The European Central Bank announces its own interest rate decision on Thursday, the day after the Fed, with markets widely expecting another 25 basis point lift from the Frankfurt-based central bank amid stubbornly high inflation in the eurozone.

The Bank of Japan will reveal its decision the same day as the ECB, though Japan's central bank is expected to keep its loose monetary policy unchanged.

The following week, the Bank of England will take centre stage with an interest rate decision.

Mould said: "The calculus is different for the Bank of England, given the UK's more persistent inflation alongside warnings from a Bank of England official of further rate hikes, which felt like a parent telling a sickly child they need to take their bitter medicine. Unwelcome, but not unexpected. Its meeting next Thursday is expected to see another hike, barring anything dramatic."

Bank of England policymaker Jonathan Haskel wrote in The Scotsman on Monday that further interest rate rises "cannot be ruled out" amid decades-high inflation in the UK. Consumer price inflation was running at 8.7% in April.

Haskel said: "My own view is that it's important we continue to lean against the risks of inflation momentum, and therefore that further increases in interest rates cannot be ruled out."

The dollar was slightly lower ahead of the data and interest-rate decisions.

The pound was quoted at USD1.2585 at midday on Monday in London, higher compared to USD1.2577 at the equities close on Friday.

The euro stood at USD1.0779, higher against USD1.0750. Against the yen, the dollar was trading at JPY139.16, lower compared to JPY139.33.

Gold was quoted at USD1,965.54 an ounce, higher against USD1,961.75 on Friday, with the yellow metal benefited from a softer US dollar.

In London, Ocado remained the best blue-chip performer at midday, up 10%. The stock got a boost after Exane BNP raised the online grocer and warehouse technology firm to 'neutral'.

Segro was the FTSE 100's worst performer, down 1.8% after Goldman Sachs cut the asset manager and warehouse and industrial property developer to 'neutral' from 'buy'.

Shares of oil majors remained on the back foot as oil prices continued to decline. Shell and BP were 1.0% and 1.3% lower.

Brent oil was quoted at USD73.20 a barrel at midday in London on Monday, down from USD76.12 late Friday.

Ricardo Evangelista, senior analyst at ActivTrades, said: "Should the Fed hint at further rate hikes later in the year, as many now expect, there could be further downside for the price of the barrel.

"This is because crude is priced in dollars, and a stronger greenback means a lower nominal value. At the same time, US monetary policy is important not just for the world's largest economy but also for the rest of the world. Should the Fed continue to focus on fighting persistently high inflation through stringent monetary tightening, it will eventually achieve its objective, but the side effect will be an economic slowdown. It's this perspective of a Fed-driven decline in demand that is now being discounted by investors, creating a downside for oil prices," he explained.

In the FTSE 250, Darktrace added 2.3% as it launched new artificial intelligence risk and compliance models to address the threat of intellectual property loss and data leakage.

Wizz Air climbed 3.7% to 2,825.00p, following price target upgrades from Bank of America and JPMorgan.

BofA raised its price target on Wizz Air shares to 4,200p from 3,600p, while JPMorgan raised its price target to 4,050p from 3,750p.

Elsewhere in London, AO World jumped 6.4% after Frasers announced it had bought a stake in the online electricals retailer.

The Sports Direct-owner said it bought a 19% stake in AO World through the purchase of 109.4 million shares at a price of 68 pence each, for a total investment of GBP75 million.

Bradley Hughes and Clive Black at Shore Capital said the investment by Frasers is "a vote of confidence" in AO World's "pivot to profitability story".

Shares in Frasers were up 0.5%.

On AIM, Futura Medical surged 20% after the sexual health-focused pharmaceutical company announced that the US Food & Drug Administration granted over the counter sale marketing authorisation for MED3000.

MED3000 is now legally marketed in the US as the first topical treatment for erectile dysfunction available over the counter without the need for a prescription.

In European equities on Monday, the CAC 40 in Paris was up 0.5%, and the DAX 40 in Frankfurt was up 0.6%.

Stocks in New York were called higher amid the growing confidence that the Fed will hold steady and the US inflation rate will continue to ease. The Dow Jones Industrial Average was called up 0.1%, the S&P 500 index up 0.1%, and the Nasdaq Composite up 0.2%.

By Heather Rydings, Alliance News senior economics reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
14 Feb 2024 14:30

Deutsche Bank upgrades Wizz Air, hikes price target

(Sharecast News) - Deutsche Bank upgraded Wizz Air to 'hold' from 'sell' on Wednesday and hiked the price target to 2,300p from 1,800p.

Read more
14 Feb 2024 09:40

LONDON BROKER RATINGS: Panmure likes Nichols; Jefferies cuts Bytes

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
14 Feb 2024 07:59

CORRECT: United Utilities hit by storms; Severn Trent bullish

(Correcting to clarify that stocks are called to open higher on Wednesday.)

Read more
14 Feb 2024 07:48

LONDON BRIEFING: United Utilities hit by storms; Severn Trent bullish

(Alliance News) - Equities in London are called to open lower on Wednesday, after a morale-boosting UK inflation reading.

Read more
2 Feb 2024 17:12

LONDON MARKET CLOSE: Stocks mixed as US jobs data dashes rate cut hope

(Alliance News) - Stock prices in London closed mixed, after hotter-than-expected US jobs data hit already precarious investor sentiment and all but ensured the Federal Reserve will not be cutting interest rates next month.

Read more
2 Feb 2024 16:59

London close: Stocks mixed as US payrolls come in red-hot

(Sharecast News) - London's stock markets closed with mixed results on Friday, as investors were confronted by an unexpectedly strong US labour market as revealed in the latest US non-farm payrolls report.

Read more
2 Feb 2024 14:45

Broker tips: Wise, easyJet, Wizz, BT

(Sharecast News) - Jefferies has upgraded its rating on money transfer specialist Wise to a 'buy' on the back of improving growth prospects.

Read more
2 Feb 2024 12:09

LONDON MARKET MIDDAY: Airlines up but oil falls on Middle East talks

(Alliance News) - Stock prices in London were higher at midday Friday, ahead of the afternoon's US jobs data, as earnings from tech behemoths overnight lifted investor morale.

Read more
2 Feb 2024 11:56

Barclays upgrades easyJet, Wizz Air

(Sharecast News) - Barclays upgraded Wizz Air and easyJet on Friday as it cited "positive prospects" for European low-cost carriers.

Read more
2 Feb 2024 09:27

LONDON BROKER RATINGS: Barclays raises easyJet and Wizz Air

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning:

Read more
2 Feb 2024 08:54

LONDON MARKET OPEN: European stocks lifted on Wall Street's gains

(Alliance News) - Stock prices in London opened higher on Friday, closing of a busy week of monetary policy decisions.

Read more
2 Feb 2024 08:08

TOP NEWS: Ryanair and Wizz Air Passenger numbers rise in January

(Alliance News) - Budget airlines Ryanair Holdings PLC and Wizz Air Holdings PLC on Friday both said passenger traffic increased in January compared to a year before, despite suspended flights to Israel amid the ongoing conflict.

Read more
2 Feb 2024 07:08

Wizz Air January passenger numbers up 14%, but load factor falls

(Sharecast News) - Shares in Wizz Air surged on Friday as the low-cost airline reinstated routes to the Middle East and reported a 14.2% rise in January passenger numbers but load factor fell due to the conflict in Gaza and an increase in one-way traffic.

Read more
26 Jan 2024 09:07

LONDON BROKER RATINGS: Morgan Stanley ups Rightmove; Deutsche cuts IHG

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

Read more
25 Jan 2024 15:13

London close: Stocks turn green after US GDP release

(Sharecast News) - Stocks in London had turned higher by the close on Thursday, as investors digested a better-than-expected GDP reading out of the United States.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.