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Ryanair flew a record number of passengers for the fourth month in a row in August, but it also admitted 350 cancellations due to the recent air traffic control scandal which had “still not been explained”.

The low-cost carrier said it had carried 18.9m passengers, up 11 per cent year-on-year and representing an increase from a July record of 18.7m.

Ryanair’s figures provide a fitting end as one of the busiest summer seasons of travel on record draws to a close, and came alongside further reported passenger rises at budget rival Wizz Air.

Over six million passengers flew with Wizz in August, representing a 23.9 per cent year-on-year increase and taking its rolling total for the year to 62m, up from 47m in 2022.

Load factor, which refers to the proportion of seats filled by its passengers, remained strong for both airlines – at 96 per cent and 94.1 per cent for Ryanair and Wizz Air respectively.

Pent-up demand stemming from the pandemic has swept across the sector this summer, with carriers including Easyjet and British Airways-owner the IAG all reporting huge profits.

The IAG raked in a staggering €1.25bn (£1.07bn) profit in its July results.

But it has also been a summer marred by disruption, with air traffic control chaos in the UK and France, as well as wildfires in Southern Europe, forcing carriers to cancel thousands of flights.

https://www.cityam.com/ryanair-hits-another-passenger-record-but-air-traffic-control-chaos-has-still-not-been-explained/

Good morning and the FTSE 100 is expected to make a positive start to the week on hopes that US interest rates have peaked and actions taken by Chinese authorities will support its faltering economy.

Spreading betting companies are calling London’s index up by around 38 points after closing 25.41 points at 7,464.54 on Friday.

Any new investor who just watch the latest update have got to be asking them selves why didn't they talk about the Native heritage agreement or the Flora vegetation studie they was deliberately left out the interview could be next month could be 6 months, until there's a date on the above the SP will keep drifting sometimes it's best to be honest to it's shareholders instead of taking us for mug's

This is the frustration of being invested in Lloyds 🥴

Dan Boardman-Weston of BRI Wealth Management acknowledges that the members of the FTSE 250 have been more affected by the economic downturn than their counterparts in the FTSE 100. The FTSE 250 has fallen by 23 per cent since its peak in September 2021.

But he adds: 'This downturn won't last forever. Over the past 20 years, the FTSE 250 has delivered a return of nearly 470 per cent for investors. That's a fraction behind the 490 per cent of the S&P 500, but leagues ahead of the 275 per cent of the FTSE 100.'

https://www.google.com/amp/s/www.thisismoney.co.uk/money/investing/article-12471215/amp/Back-Britain-bet-FTSE-250.html

He didn't mention anything new as previously mentioned smoke and mirrors very disappointing really avoiding the the major issue on native heritage agreement

Yes no mention of native agreement the main thing for this company and wouldn't give a timeline when asked, good start on keeping shareholders updated

The UK economy performed better than was previously thought during the Covid pandemic, according to the Office for National Statistics.

The ONS said its annual examination of previously published data, the Blue Book, showed that by the end of 2021, the UK economy was 0.6% larger than pre-pandemic levels versus the 1.2% contraction shown in the original data.

It revised gross domestic product (GDP) growth in 2021 0.9 percentage points to an 8.5% increase which follows an unrevised fall of 5.8% in 2020.

https://www.proactiveinvestors.co.uk/companies/news/1025203/ftse-100-live-stocks-extend-gains-manufacturing-at-39-month-low-1025203.html

ALIEN METALS (@AlienMetals) posted at 11:42 am on Thu, Aug 31, 2023:

As supply becomes limited, the need for iron, especially when in transit creates a more valuable commodity. (2/3)

(https://twitter.com/AlienMetals/status/1697198058440729050?t=M_UyCkezUhb7Q4lot0bFaw&s=03)

The air traffic control glitch which caused thousands of flight cancellations and delays into and out of Britain has been fixed and will not be repeated, the head of NATS, the country's air traffic control provider, said

Aug 31 (Reuters) - Britain's car production rose for the sixth consecutive month in July as automakers continued to recover from global chip shortages, an industry body said on Thursday.

The Society of Motor Manufacturers and Traders (SMMT) said a total of 76,451 units rolled out of factory lines in the country last month, a 31.6% increase over the year earlier.

"Six months of growth shows that British car production is recovering and, with electrified models increasingly driving volumes, the future is more positive," said SMMT Chief Executive Mike Hawes.

Business confidence surges to 18-month high

Business confidence up ten points

Highest level of business confidence since before Russia’s invasion of Ukraine

Economic optimism rebounds, after 50 bps rise in interest rates did not materialise

Trading prospects highest since December 2017

Half of companies expect to increase headcount this year, with pay expectations remaining strong

Confidence climbed in the construction, retail and service sectors

Business confidence rose by 10 points to 41% in August to reach the highest level since February 2022 (44%), just prior to Russia’s invasion of Ukraine.

The 10-point increase is the largest month on month rise since March 2023. Business sentiment was largely driven by a more upbeat view of the wider economy, after the latest rise in base rates of 25 basis points was lower than the 50 basis points increase some firms had been expecting. This led to an overall 15-point rise in economic optimism to 36%.

The August survey was conducted between August 1 and August 15, with most responses taken after the Bank of England’s decision on August 3 to raise the base rate 25 basis points to 5.25%.

The rise in confidence followed a six-point dip in July to 31%, though this level was above the long-term average for the Barometer of 28%.

https://www.lloydsbankinggroup.com/media/press-releases/2023/lloyds-bank-2023/august-2023-business-barometer.html

Carltt

Lloyds finishes down again never fails to disappoint 📉🤦

Good news with crushing contract another step closer to production

The Bank of England has reported net mortgage approvals decreased from 54,600 in June to 49,400 in July, although approvals for remortgaging slightly increased from 39,100 to 39,300 during the same period.

The figure was below market expectations of a drop to 51,000.

The BoE said the ‘effective’ interest rate, the actual interest rate paid, on newly drawn mortgages rose by a further 3 basis points, to 4.66% in July.

Net borrowing of consumer credit by individuals fell to £1.2 billion in July from £1.6 billion in the previous month.

Alice Haine, personal finance analyst at Bestinvest, said: "Mortgage lending is likely to remain weak over the coming months as buyer demand and spending power continue to get pummelled by soaring interest rates and high living costs.

"Average mortgage rates may have now softened from their July peak, but that will do little to ease the stress and anxiety for new buyers desperately trying to secure their first deal or those looking to refinance who face significantly higher repayment levels," Haine added.

"As affordability challenges mount, property prices will come under increasing pressure, forcing sellers to market their homes more competitively if they want to secure a sale."

Onlyif

Christmas has come early onwards and up 📈🤞

"If optimism prevails, 50p could be on the cards"

With the rising interest rates markets will have to reprice Lloyds 50p sounds good to me 📈

Good morning from London where the FTSE 100 has shot up to fortnight highs in early trading following gains in the US and Asia. And there’s more positive news from the British Retail Consortium, which says that shop price inflation has slowed to 6.9% in August from 8.4% in July.

Here in the City though its another quiet day following the long weekend, but Bunzl PLC (LSE:BNZL) shares marked a jump in early trading as the distribution specialist raised its profit guidance on increased revenue and pre-tax profit during the first six months of the year.

Network Rail made the headlines this morning as well, as a new row erupted with RMT over the railway operator’s refusal to pay bonuses to staff who took part in strikes earlier this year.

Airlines face another day of disruption, after an air traffic control issue on Monday caused cancellations and delays across several UK airports on Monday.

And in small caps, rising stars hVIVO PLC (AIM:HVO) have announced they’re moving from East London to the life sciences hub in Canary Wharf – taking full advantage of the cheaper rents available on the Isle of Dogs.

https://www.proactiveinvestors.co.uk/companies/news/1024786/ftse-100-follows-us-and-asian-markets-higher-market-report-1024786.html

UK shop price inflation hit its lowest level in almost a year in August, driven by an easing in the rise in food prices.

The British Retail Consortium (BRC) said the annual rate decelerated to 6.9% in August, down from 8.4% in July and the lowest level since October 2022.

https://www.proactiveinvestors.co.uk/companies/news/1024769/ftse-100-live-stocks-fly-high-shop-price-inflation-eases-1024769.html

Rod McIllree closed multi project's to concentrate on Han-ock and bringing this into production, can't have any more placing this would kill the share price