Ryanair results help stock soar by €600m

The value of Ryanair increased by more than €600m in one day’s trading yesterday after the company reported stronger than expected results.

The company’s shares rocketed up the Irish stock exchange, increasing by more than 7% as the hedge-fund community scrambled to recover their positions after they bet that Ryanair would lower its guidance following their annual report.

Goodbody analyst Donal O’Neill said Ryanair’s shares were benefiting from a ‘short squeeze’, where there is a lack of shares available, forcing the price up.