ii view monthly round-up: June 2026 – markets perform switcheroo

Big importers of oil benefited from a significant fall in the price of oil, the Nikkei 225 gained 5.6%, Europe’s Euronext 100 index rose 4.5%, and the UK’s FTSE All share index improved a modest 0.55%, aided by potential M&A activity. US markets were mixed, with some likely switching out of high-performing tech stocks into more traditional old economy plays, leaving the Nasdaq Composite tech index down 2.8% and Dow Jones up 2.5%.

Wizz Air Holdings (LSE:WIZZ) proved a winner during June, with shares in the airline group up 15%. The Eastern Europe-focused carrier offered no year ahead forecasts within annual results given war in the Middle East was ongoing, but it did detail underlying signs of improving financial and operational performance.  

Passenger numbers up 10% to 69.7 million during the year to late March pushed revenues up 8% to €5.69 billion (£4.87 billion). Adjusted profit climbed 16% to €1.32 billion, with the airline’s leverage or net debt-to-adjusted profit ratio falling to 3.7 times from 4.4 times the year before. Broker UBS reiterated its ‘buy’ rating on the shares post the results.

Discount retailer B&M European Value Retail (LSE:BME) continued to look forward under former Tesco executive Tjeerd Jegen’s and his new back-to-basics plan. Adjusted profit (EBITDA) for the year to late March fell by just over a quarter to £459 million, but with the new plan helping cash generation rise 2.2% to £801 million. Group net debt fell 16% to £656 million. Shares in the FTSE 250 retailer rose 14% over the month.

Live events and business data provider Informa (LSE:INF) reassured investors despite its operations in the war-torn Middle East. The media sector giant continued to forecast full-year revenues of over $4 billion (£3 billion), potentially pushing double-digit growth in annual earnings per share (EPS).

Many business-to-business live events across the Middle East had been either rescheduled or postponed until 2027. Broker Morgan Stanley reiterated its ‘overweight’ stance on Informa post the update, aiding a 12% rise in the shares.

FirstGroup (LSE:FGP) highlighted its expectation to generate free cashflow of around £400 million over the next three years. That supported a new £100 million share buyback announced by the bus and rail operator within full-year results.

Cost savings of £9 million for the year to late March helped push adjusted earnings up 5% to 20.3 per share. A final dividend of 5p per share took the total annual payment up 11% to 7.2p per share. FirstGroup shares rose 10% in June.

UK pharma giant GSK (LSE:GSK) detailed its biggest acquisition in more than a decade. A $10.6 billion purchase of US headquartered biotech Nuvalent added to its expanding cabinet of potential cancer treatments.

Nuvalent’s treatments include Neladalki, a therapy targeting certain types of lung cancer and which is currently undergoing a US government regulatory review. GSK shares climbed 5% for June.

On the downside, FTSE 100 company Halma (LSE:HLMA) suffered their biggest one day fall in years, leaving them down 16% in June. Sales at its photonics or light related products, regularly sold to data centre operators, were forecast to slow.

The maker of health and safety related products reported a 23rd consecutive year of adjusted profit growth. Halma customers include utility companies, commercial and public buildings, healthcare providers, as well as oil and gas and mining companies. A final dividend of 15.11p per share took the total payment for the year up 7% to 24.74p per share, adding to a record of more than 30 years of annual consecutive dividend increases.

Shares in data centre related Oracle Corp (NYSE:ORCL) also fell 35% during the month. Plans by the US company to raise an additional $20 billion on top of a previously announced $20 billion are expected to contribute to investment expenditure of up to $95 billion for the year ahead. Wall Street had forecast spending nearer $72 billion.

As well as being a major database software provider, Oracle has been investing heavily in expanding its own network of data centres from which other companies can host their AI software. Sales for the year to late May rose 17% to $67.4 billion, taking earnings up 27% to $7.63 per share. Oracle predicted revenues for the year ahead of $90 billion and earnings of $8.05 per share.

Elsewhere, shares in UK defence equipment maker Chemring Group (LSE:CHG) fell by a more sedate 7%. Half-year adjusted operating profit dropped by almost a tenth to £24.5 million, hindered by the UK’s delayed publication of its Defence Investment Plan.

Chemring makes items such as countermeasures for jetfighters to fool missiles as well as operating its Roke tech focused business working on products such as anti-drone systems.

Finally, recruiter Hays (LSE:HAS) fell 6%. During the month, the FTSE 250 company announced a scaling down of countries in which it will operate to provide management with a sharper focus on existing higher performing markets.

Operations in the Czech Republic, Denmark, Hungary, Luxembourg, Romania and Sweden have all been exited, with sales for a further seven countries including Belgium, Brazil, China and the UAE all being considered. Tough economic conditions in its two biggest markets - Germany and the UK - have helped force the share price down by almost a half over the last year.