GrowthRater portfolio: Closing long position in IAG for +33% gain in 6 months (+24% relative to FT Allshare)
Having added IAG Plc (IAG_L) to the GrowthRater portfolio in those dark days post the Brexit vote I am now closing the position and taking my gains. With an entry price of 359p and exit price of 476p, that represents a gain of approx +33% over the six months. Over the same period the FT Allshare inndex is up approx +6.8% (from 3,654 to 3,902) which implies a relative gain on this position of +24% in the six months.
Reasons: Willie Walsh’s hopes of being able to offset some of the weakness of sterling with price increases look like failing with Ryanair’s -17% average fare reduction announced for Q3 FY17.