Source: Sharecast
As far as Jet2 is concerned, UBS said it’s broadly in line with consensus EBIT of £438m, versus the company’s guidance range of £435m to £440m.
"However, with results three months after year end and all the geopolitical changes this year, we think the FY26 reported results are likely to be a non-event," the bank said. "Investors in our view will be more focused on the future than the past, capex and the company's balance sheet position.
"The end of April update stated that summer capacity was 7.7%. We expect that summer capacity for Jet2 is now below this level but still above 7%. We expect pricing commentary might have improved given the ceasefire in the Middle East and hence customers should be less concerned about fuel shortages. Nevertheless, we continue to think that European aviation short haul capacity needs to show greater discipline in order to pass on cost inflation."
Investors will also watch for the latest FOMC minutes and a policy announcement from the Reserve Bank of New Zealand.
Francesco Pesole, FX strategist at ING, said: "The collapse in oil prices makes the Reserve Bank of New Zealand’s 8 July decision more finely balanced.
"Even so, we expect policymakers to avoid disappointing hawkish pricing and deliver a 25 basis points ECB-style ‘insurance’ hike to anchor inflation expectations. That said, the risk of this being a one-off move is rising, which can limit NZD upside."
Neil Wilson, UK investor strategist at Saxo Markets questioned what the minutes of the last Fed meeting will tell us about the regime shift under new chair Kevin Warsh. "In his first meeting chairing the FOMC Warsh cut the fat from the previously wordy statement and dropped any hint of forward guidance," he noted.
"He also declined to provide anything to the committee’s patchwork of interest rate guesses, known as the dot plot. The minutes are a lot more important than we’re used to because of the very lack of communication from Warsh that has so far defined his tenure."