Updates from Ryanair, Hiscox and Weir Group

The FTSE 100 finished just 3.31 points up on Friday (and 13 points up on the week as a whole) at 6,734.7 thanks to Vodafone which saw a +3.56% lift. The biggest loser on Friday, by an overwhelming margin, was Meggitt, down more than -11% on US production anxieties.

The Dow Jones ended Friday up almost 70 points at 15,615.
We start Monday with a profits warning from Ryanair. Ryanair says it expects to see annual profits come in at around €500-520m compared to up to €570m previously anticipated. The first profit drop in five years.

"The continuing fare and yield softness means that full year profits will be lower than previously guided," the company acknowledges in a statement. Additionally, controversial airline boss Michael O'Leary expects prices to slip 10% over winter.

Part of the profits pressure is down to increasing competition, not just from easyJet but European competitors. The company recently announced a few 'customer service improvements' in an attempt to distance itself from its uncaring customer brand image.

Next, an interim from Weir Group. Third quarter revenues and profits were, the company says, slightly below expectations due to further project delivery delays in Minerals and a more gradual than anticipated recovery in upstream Oil & Gas markets.

"As a result," it says, "on an H1-2013 constant currency basis, full year profits before tax, amortisation and exceptional items are expected to be in the range of £425m-£435m with margins broadly in line with the prior year."

The company recently received an Overweight rating from Barclays with a 2750p target price; Berenberg Bank currently also has a buy rating on the stock. Weir Group shares currently sell for 2,250.92p.

Lastly, an interim from insurer Hiscox for the last nine months up to 30 September. Gross written premiums increase year-on-year by +10.1% to £1,370.5m (2012: £1,244.4m) benefiting also from low levels of catastrophes.

"Our insurance business," says boss Bronek Masojada, "has seen good growth at both the top and bottom line, and we continue to underwrite reinsurance at the right price. We have diversity by product and geography and see good opportunities for 2014 and beyond."

The emphasis for the company is focusing on reinvesting as much cash - dividend investors, take note - in the business. Hiscox USA increased its premium income by +27.7% to US$220.3m (2012: US$172.5m).