ii view monthly round-up: December 2025
Equity analyst Keith Bowman looks at company events over the past month.
31st December 2025 11:54
by Keith Bowman from interactive investor
ii view monthly round-up: December 2025
Gains for precious metals on hopes of further interest rate cuts countered falls for energy prices and worries for oversupply during December. That helped leave the FTSE All-Share up 2.2%. The broad S&P 500 index in the US gained 0.7%.
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Shares for cruise ship operator Carnival (LSE:CCL) sailed 26% higher during the month. The FTSE 250 and S&P 500-listed company detailed record booking volumes, underpinning a restarting of the dividend, with lower oil prices also potentially feeding into reduced fuel costs going forward.
Carnival operates around 90 ships across brands including P&O, Princess Cruises and Cunard. Group net debt is down by more than $10 billion (£7.4 billion) since the pandemic. Under a new simplification proposal, Carnival is now considering unifying its dual-listed structure into a single company, Carnival Corporation, listed solely on the New York Stock Exchange. Further details are expected in February followed by a shareholder vote in April.
Staying in the travel sector, shares for Wizz Air Holdings (LSE:WIZZ) climbed 10%. The Eastern European-focused carrier reported passenger numbers of 5.25 million for the month of November, a gain of 8.6% from November 2024.
The FTSE 250 airline flies to over 175 airports in more than 45 countries. Passengers carried for the 12-month rolling period to November 2025 rose 8.3% to 67.8 million.
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Away from travel, defence-exposed support services provider Serco Group (LSE:SRP) forecast 2026 profits ahead of City estimates. The FTSE 250 company predicted 2026 adjusted operating profits of £300 million, potentially up from 2025’s £270 million and ahead of analyst forecasts of £285 million.
The company, which is headquartered in Hook, Hampshire, provides services to government departments including defence, immigration, justice and healthcare. Serco shares rose 9% during the month.
Shares for equipment hire company Ashtead Group (LSE:AHT) gained 7% during December. The group reported record free cash flows supporting a new $1.5 billion share buyback programme. With more than 90% of sales in North America, the FTSE 100 company is moving its primary stock market listing to the US come early March.
To the downside, shares for magazine owner Future (LSE:FUTR) fell 17%. Adjusted revenues for the full year to late September retreated 3% to £739 million, leaving currency adjusted profit (EBITDA) down 5% to £223 million.
Magazine brands for the FTSE 250 company include Country Life, Marie Claire and PC Gamer. Future predicted modest organic revenue growth for 2026 alongside a potential improvement in the profit margin to 30% from 2025’s 28%.
Shares for oil major BP (LSE:BP.) dropped 5% over the month. That came despite the FTSE 100 company announcing the sale of a 65% stake in motor oil business Castrol. The deal, which came just days after BP confirmed Meg O’Neill as its new CEO from early April, helps contribute towards the group’s ongoing target to reduce net debt. Prices for oil and natural gas fell 1% and 17% respectively during the month.
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In the US, shares for Nike Inc Class B (NYSE:NKE) remained on the back foot, falling 5%. The sporting goods maker announced falling second-quarter China related sales with the profit margin for the current third quarter expected to fall further given ongoing US trade tariffs.
Nike’s making of goods across Asia and export into its home US market left the profit margin for the quarter down 3%. Shares for the Dow Jones 30 index member fell by close to a fifth during 2025.
Lastly, and in the retail arena, shares for Costco Wholesale Corp (NASDAQ:COST) also fell 5% over the month. The S&P 500 company reported first-quarter revenues to late November up 8.3% to $67.3 billion, fuelling growth in adjusted earnings of 11.4% to $4.50 per share.
Costco operates 923 outlets globally, including 633 in the US, 114 in Canada, 42 in Mexico, 29 across the UK and three in France. Shares for the company, which has its headquarters on the West Coast, are up by more than 120% over the last five years.
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