The IAG share price performance, relative to peers, remains very poor.

Such a divergence, in an otherwise generally strong sector (driven by higher prospective returns to float, in turn due to higher yields) strongly suggests some ongoing market scepticism over the mix of provisioning/business interruption insurance litigation, and Greensill exposure.

The market may be manic, but it is wise enough in its collective wisdom, and as such the weak momentum signals are worth paying attention to.


Not a trade for the fainthearted, and not one for us. Which is a little annoying, because there’s not a huge amount of value on offer out there (despite Value being much more favourably priced than Growth) and IAG has, historically, evidenced itself as a reasonably high quality company…

…with good cost and claims control, and consequently a reasonably higher combined operating ratio.

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