There was a definite summer holiday lull feel to Monday morning trading as the FTSE 100 slipped back a little following overnight losses in Asia.
In macro-economic terms, all the big action comes mid-week as the Federal Reserve serves up its latest decision on interest rates and, a day later, we get the first estimate of US GDP for the second quarter.
AJ Bell investment director Russ Mould said: “Shrinking violet Ryanair boss Michael O’Leary was his typical reticent self when discussing the cause of problems in the aviation sector, pointing the finger at ‘unprecedented air traffic control and airport handling delays’.
“Ryanair’s results did reveal a healthy enough profit for the three months to the end of June amid significant pent-up demand. But the industry really needs these problems ironed out as soon as possible if it is to avoid hard-pressed households being put off the idea of flying on holiday by the stress and hassle of being unsure if they’ll get away, and the prospect of lengthy airport queues.”