The 2 best FTSE stocks to buy before the summer

There’s a saying on Wall Street — “sell in May and go away” — that relates to a belief that the sunny season is a bad time to buy stocks. Whether true or not, and although we’re only in March, I’ve got two companies in my crosshairs that I believe could be the best FTSE stocks to buy ahead of the summer months.

And despite England just announcing £5,000 fines to all travellers in breach of Covid-19 regulations, vaccinations are proceeding as planned while the UK’s government leaders have also outlined a reopening plan. That’s why I want to talk about my two best FTSE stocks to buy right now, Ryanair (LSE: RYA) and Diageo (LSE: DGE).

1. Ryanair

Not only a top airline share to buy, but a top FTSE stock too. I know what you’re thinking: “An airline stock? Now? Really?!?” But there is a reason behind my madness, especially when I see that Ryanair stock has risen 68% in the past year, as of market close on March 24.

However, what makes this one of the best FTSE stocks to buy for me is its bullish sentiment towards a resurgence in airline travel to come this summer. This optimism was backed by chief executive Michael O’Leary, who announced a fresh batch of 26 destinations this week and plans to operate 2,000 weekly flights on 400 summer routes. When asked about travel bans, he reiterated that travellers should just book holidays:

“If you’re fully vaccinated, I’d be very surprised if there was any legal basis for the UK government preventing people travelling on holidays to other European countries.”

Although Ryanair is well poised for a return to travel, it is still highly unlikely that it will operate at full capacity any time soon. Should the worst happen and bans continue, Ryanair will continue to bleed millions of pounds, and will likely have to keep dipping into its €3.5 billion in cash-on-hand just to stay afloat, which would negatively impact its share price.

2. Diageo

Diageo was always going to be one of the best FTSE stocks for me to buy ahead of 2021 following its impressive rally since last March. Yes, the beverage giant was hit hard by the closure of restaurants, pubs, and establishments around the globe, but its 19% rally in the past six months has not been without reason.

At-home sales of alcohol have been carrying the flag for Diageo, with grocery sales in the UK surging 30% in January alone. These figures increase in the summer, but what I believe has not been factored into Diageo’s share price is the fact that massive friends and family reunions this summer will likely boost sales. What’s more, should vaccinations continue as planned, all restrictions across the UK will be lifted on June 21, marking a massive moment for Diageo.

However, for Diageo to be one of my best FTSE stocks to buy before the summer, vaccine rollouts and restrictions need to go without a hitch. This is a big ask, and if lockdowns do continue throughout the summer, then Diageo stands the risk of losing millions worth in revenue for the second year in a row.