Greece will give in to the European demands to unlock the fresh credit line, but this move will not be humiliating for the Greek politicians as the prime minister has won sufficient backing from Syriza party. Traders are hopeful that finally both sides will come to some meaningful conclusion by the end of this week and address all thorny issues at least for now. However, you cannot eliminate the possibility of another week of going through all this tantrum over the so called red lines which both sides have developed for themselves.
Another static number was produced by the Europe cheapest airline this morning- Ryanair. The company has over delivered on its promise and this not the case when you use the typical Wall Street strategy which is under promise and deliver more. Ryanair has reported a surge in their profit by nearly 66 percent- a number which is extremely difficult to achieve and easy to say. The net profit of 867 million is nothing but a success for the firm and this is mainly due to its friendly customer service and low prices.
The company has really turned its corner when it comes to its reputation and the massive U turn in policies such as a generous baggage allowance and targeting primary airports have cooked the net profit. However, the only drawback is that the company is hedged for its fuel price at 92 dollar a barrel and there is no room for them to take advantage of lower fuel prices. This translates their cautious approach, but given the aggressive pricing structure, we believe Ryanair will be able to deliver another handsome quarter. The friendly mobile app which enables its customers to plan their journey more efficiently is another medal for the company. We believe Ryanair is one of the strongest candidate among its peers and it has built a stout history of delivering much better revenue and net profit.