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Neighbour: The best of trades, the worst of trades
TX16/12
As we come to the end of the year, Trading Floor contributors reflect on a year of trading, the highs and the lows.
Joe Neighbour from Central Markets reflects fondly on the increasingly competitive airline market this year as he had the chance to play the odds on two direct competitors in the budget airline sector: easyJet and Ryanair. Recently both companies have announced major changes.
Neighbour placed a short on Ryanair, at their peak, and a long on easyJet based on its upward trend. The trade provided a 7.8 percent return in a week with Ryanair up 11.2 and easyJet falling 3.4 percent.
Neighbour wasn’t as fortunate in a deal concerning Petrofac. He decided to hold the stock as it was delivering a nice 4 percent return. Then the company announced a profit warning causing the stock to gap down 11 percent.
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01:07 minutes
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