1 00:00:02,520 --> 00:00:09,040 Speaker 1: Bloomberg Audio Studios podcasts, radio news, The. 2 00:00:08,880 --> 00:00:13,119 Speaker 2: Stock Movers podcast, your roundup of companies making moves in 3 00:00:13,200 --> 00:00:16,480 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:17,360 --> 00:00:19,079 Speaker 3: Now, let's look at some of these stocks on the 5 00:00:19,120 --> 00:00:21,720 Speaker 3: move today here in Europe. I'm Caroline Hepget alongside Tom 6 00:00:21,760 --> 00:00:25,160 Speaker 3: McKenzie and we're joined by Boomberg's Equities of Porta. Joe Eason. 7 00:00:25,239 --> 00:00:28,440 Speaker 3: Good morning, Joe. How are energy stocks moving on the 8 00:00:28,480 --> 00:00:31,120 Speaker 3: news of a ceasfire in the Middle East this morning 9 00:00:31,560 --> 00:00:33,879 Speaker 3: that I call a sea is far but that is 10 00:00:33,920 --> 00:00:37,640 Speaker 3: still quite tentative at the moment. What is moving in markets? 11 00:00:38,080 --> 00:00:40,160 Speaker 1: Yeah, so it is quite uncertain still as you mentioned 12 00:00:40,200 --> 00:00:43,800 Speaker 1: on the fundamentals there, but the oil prices really heading 13 00:00:43,840 --> 00:00:46,920 Speaker 1: through into the energy stocks at BP down around five 14 00:00:46,960 --> 00:00:51,000 Speaker 1: percent today, Shell down three percent, Totel energies also dropping 15 00:00:51,040 --> 00:00:54,680 Speaker 1: as well, ecnor over in Norway down six percent. These 16 00:00:54,680 --> 00:00:57,680 Speaker 1: are the biggest declines since early April when we saw 17 00:00:57,680 --> 00:01:01,560 Speaker 1: the fallout from Trump's tariff announcement. That oil markets and 18 00:01:01,600 --> 00:01:04,200 Speaker 1: the broader stock markets are really big moves and those 19 00:01:04,319 --> 00:01:07,640 Speaker 1: the important thing for these stocks is where we closed 20 00:01:08,040 --> 00:01:10,399 Speaker 1: closed yesterday versus now on the crew price. So we 21 00:01:10,440 --> 00:01:13,800 Speaker 1: closed at the close of Kashak leeds training on Brent 22 00:01:13,880 --> 00:01:17,679 Speaker 1: around seventy seven a barrel. We're now below seventies, so 23 00:01:17,800 --> 00:01:20,759 Speaker 1: that is down around nine percent, and therefore we're seeing 24 00:01:20,800 --> 00:01:23,920 Speaker 1: a big retlacement in energy stocks, giving up a lot 25 00:01:23,920 --> 00:01:26,520 Speaker 1: of the games they've seen over the past month. Still 26 00:01:26,600 --> 00:01:29,600 Speaker 1: up pretty significantly, up around five percent across the sector 27 00:01:29,640 --> 00:01:32,240 Speaker 1: on a one month few but hit hard today. 28 00:01:32,400 --> 00:01:34,880 Speaker 4: And Joe flights in the Gulf, of course have been 29 00:01:34,880 --> 00:01:40,080 Speaker 4: heavily disrupted following the firing of missiles by Iran. Of course, 30 00:01:40,480 --> 00:01:42,920 Speaker 4: the counter attacks by Israel. Again we're talking about this 31 00:01:43,120 --> 00:01:45,920 Speaker 4: very tentative CEASEFI and the most recent lines of course 32 00:01:45,920 --> 00:01:49,480 Speaker 4: coming from the Israeli Defense secretary suggesting that Israel may 33 00:01:49,520 --> 00:01:53,880 Speaker 4: respond to the most recent barrage of Iranian missiles. So airlines, 34 00:01:53,960 --> 00:01:55,360 Speaker 4: I mean they've been badly hit by this. 35 00:01:56,200 --> 00:01:58,600 Speaker 1: Yeah, they have, so we are seeing it again. It's 36 00:01:58,600 --> 00:02:00,760 Speaker 1: a bit of a retlacement at that day. So IAG 37 00:02:01,080 --> 00:02:04,680 Speaker 1: up six percent, Luftans are a similar amount. Air France 38 00:02:04,800 --> 00:02:07,320 Speaker 1: up ten percent. Now, these are the biggest gains for 39 00:02:07,480 --> 00:02:09,480 Speaker 1: these stocks in around two and a half years. So 40 00:02:09,560 --> 00:02:12,919 Speaker 1: IAG hasn't closed up more than seven percent since April 41 00:02:13,320 --> 00:02:17,240 Speaker 1: twenty twenty two. Now we are getting news of some 42 00:02:17,919 --> 00:02:20,880 Speaker 1: regions reopening some of their airspace, as several Persian Gulf 43 00:02:20,960 --> 00:02:25,320 Speaker 1: states including Katar and the United Arab Emirates reopening airspace. 44 00:02:25,360 --> 00:02:28,600 Speaker 1: So it's not just about the oil price decline, so 45 00:02:28,639 --> 00:02:31,320 Speaker 1: that is one element it feeds through into the fuel prices, 46 00:02:31,560 --> 00:02:35,000 Speaker 1: but also disruption to airspace essentially some of the big 47 00:02:35,040 --> 00:02:38,119 Speaker 1: cities like Dubai and Doha. That's why they've been down 48 00:02:38,160 --> 00:02:40,800 Speaker 1: in recent sessions, but coming back up, big moves in 49 00:02:40,840 --> 00:02:41,639 Speaker 1: airlines today. 50 00:02:42,400 --> 00:02:47,040 Speaker 3: Okay, what about the defense companies. Lots of eyes on 51 00:02:47,200 --> 00:02:49,680 Speaker 3: the NATO leaders and the summit taking place in the 52 00:02:49,720 --> 00:02:54,920 Speaker 3: Hay today as they're expected to increase defense spending. Looking 53 00:02:55,000 --> 00:02:57,520 Speaker 3: at the basket of European defense stocks, what are they 54 00:02:57,560 --> 00:02:58,200 Speaker 3: doing today? 55 00:02:58,840 --> 00:03:01,000 Speaker 1: Yeah, so it's a two day for those stocks. So 56 00:03:01,160 --> 00:03:04,760 Speaker 1: today we've got bas Systems, Ryan Matteau, Leonardo, all of 57 00:03:04,760 --> 00:03:07,240 Speaker 1: them dropping. So BAE down two and a half percent 58 00:03:07,280 --> 00:03:10,040 Speaker 1: at the moment, Ryan Moteld down three percent. This of 59 00:03:10,080 --> 00:03:14,440 Speaker 1: course given the ceasefire headlines or the tentative ceasefire headlines, 60 00:03:14,480 --> 00:03:17,080 Speaker 1: but also a bit of a squabble going on among 61 00:03:17,440 --> 00:03:20,720 Speaker 1: NATO members and that was hitting the sector yesterday and 62 00:03:20,760 --> 00:03:24,240 Speaker 1: seems to still be in focus. So this big conference 63 00:03:24,320 --> 00:03:27,400 Speaker 1: or meeting going ahead, the summit over in the Hague, 64 00:03:27,480 --> 00:03:32,440 Speaker 1: and Spain pushing back in particular against the spending Pedro 65 00:03:32,560 --> 00:03:37,800 Speaker 1: Sanchez refusing to agree to spending increases potentially threatening to 66 00:03:37,920 --> 00:03:42,000 Speaker 1: derail this summit, and the hopes of pushing spending up 67 00:03:42,000 --> 00:03:45,240 Speaker 1: to five percent of GDP and that coming into question now. 68 00:03:45,320 --> 00:03:47,640 Speaker 1: So it's a double hit for this sector as well, 69 00:03:47,840 --> 00:03:50,680 Speaker 1: a second day of losses a sector down around six 70 00:03:50,720 --> 00:03:53,080 Speaker 1: percent on a two day basis for defense stocks. 71 00:03:54,440 --> 00:03:58,560 Speaker 2: The Stock Movers podcast from Bloomberg Radio. 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