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Ryanair is trading at 631p, down 0.3%. The firm announced profit warnings in September and November, so its next update will be interesting. In November the company stated that full-year profits for the period ending in March will be between €500 and €520 million, well below the previous estimate of €570 million. A drop in consumer confidence in the eurozone and adverse movements in the foreign exchange market were blamed for the decline in profit in November.
The low-cost airline is going through an image revamp. Passengers have now been allowed to bring two pieces of hand luggage aboard aircraft, as the firm tries to make itself more friendly and approachable.
The share price dropped below 525p in November after the second profit warning in a couple of months, but the stock managed to recover its loss and even traded as high as 690p two weeks ago.
Ryanair is now trading above the 50-day moving average, but if Monday’s figures disappoint we could see the share price head towards the 100-day moving average of 620p.