1 00:00:02,520 --> 00:00:08,720 Speaker 1: Bloomberg Audio Studios, podcasts, radio news, The. 2 00:00:08,720 --> 00:00:12,560 Speaker 2: Stock Movers Report, your roundup of companies making moves in 3 00:00:12,600 --> 00:00:15,880 Speaker 2: the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,400 --> 00:00:18,040 Speaker 3: Let's take a look at some stocks on the move 5 00:00:18,079 --> 00:00:20,759 Speaker 3: today in Europe. I'm Stephen Carroll with Caroline Hepker, and 6 00:00:20,800 --> 00:00:23,840 Speaker 3: we're joined by Bloomberg reporter Chloe Melee. Chloe, good morning. 7 00:00:24,280 --> 00:00:26,640 Speaker 3: Let's start with oil companies. As you might imagine on 8 00:00:26,640 --> 00:00:29,240 Speaker 3: a day when we've got a big jump in oil prices, 9 00:00:29,840 --> 00:00:32,680 Speaker 3: Equinor in Norway reporting, what did we learn from them? 10 00:00:33,200 --> 00:00:35,760 Speaker 4: Yeah, so there's a couple of things happening with Equinor. 11 00:00:35,800 --> 00:00:39,199 Speaker 4: There's the company specific and then there's the geopolitical context 12 00:00:39,200 --> 00:00:42,400 Speaker 4: that you just alluded to. So the company specific update 13 00:00:42,479 --> 00:00:45,600 Speaker 4: is that it is planning to split its marketing, midstream 14 00:00:45,640 --> 00:00:48,879 Speaker 4: and processing unit into So what that essentially means is 15 00:00:48,880 --> 00:00:52,360 Speaker 4: that it will allow it to really strengthen its trading business. 16 00:00:52,360 --> 00:00:54,960 Speaker 4: So that is the first thing that investors are thinking 17 00:00:55,000 --> 00:00:57,640 Speaker 4: about this morning, and that is driving those shares. 18 00:00:57,680 --> 00:00:59,240 Speaker 1: And then, of course, also more. 19 00:00:59,120 --> 00:01:03,000 Speaker 4: Importantly, perhaps the whole sector, really the whole oil sector 20 00:01:03,400 --> 00:01:06,160 Speaker 4: is up because of that geopolitical context of those oil 21 00:01:06,240 --> 00:01:11,160 Speaker 4: prices rising, So oil is rallying very strongly after attacks 22 00:01:11,200 --> 00:01:14,640 Speaker 4: on major energy facilities throughout the Middle East, and that 23 00:01:14,720 --> 00:01:19,040 Speaker 4: really raises concerns about what the impact on global energy 24 00:01:19,040 --> 00:01:22,440 Speaker 4: supplies might be. And so of course when oil rallies 25 00:01:22,480 --> 00:01:25,080 Speaker 4: in that way, we are seeing shares and oil companies 26 00:01:25,240 --> 00:01:28,959 Speaker 4: following suit. Of course, so we have equanor, but also 27 00:01:28,959 --> 00:01:31,760 Speaker 4: the likes of BP, nest Any all stronger, all in 28 00:01:31,800 --> 00:01:35,040 Speaker 4: the green this morning, and oil has risen about fifty 29 00:01:35,040 --> 00:01:35,920 Speaker 4: percent since. 30 00:01:35,680 --> 00:01:38,200 Speaker 1: The start of the war. It's unclear how much further 31 00:01:38,520 --> 00:01:38,920 Speaker 1: it will go. 32 00:01:39,040 --> 00:01:42,080 Speaker 4: This is obviously band news for customers for some companies, 33 00:01:42,120 --> 00:01:44,839 Speaker 4: but at least for oil companies, it is good news 34 00:01:44,840 --> 00:01:45,440 Speaker 4: in that sense. 35 00:01:46,440 --> 00:01:50,880 Speaker 5: Yes, in terms of the miners though, it's quite different. 36 00:01:50,920 --> 00:01:55,320 Speaker 5: Gold slumping this morning, copper, zinc, aluminium. Why are the 37 00:01:55,360 --> 00:01:57,400 Speaker 5: miners having such a bad day? 38 00:01:57,640 --> 00:01:59,480 Speaker 1: Yeah, well, I mean everyone is having a bad day 39 00:01:59,480 --> 00:02:00,800 Speaker 1: in the way exact. For energy. 40 00:02:00,840 --> 00:02:03,520 Speaker 4: The socks across a lot of different sectors are down 41 00:02:03,600 --> 00:02:06,120 Speaker 4: because of that surge and oil and gas prices. It 42 00:02:06,160 --> 00:02:09,480 Speaker 4: creates a lot of concerns around inflation, around the impact 43 00:02:09,480 --> 00:02:12,359 Speaker 4: on economic growth, and one of those sectors that's being 44 00:02:12,440 --> 00:02:15,320 Speaker 4: hit at the moment is precious metals. So we'd seen 45 00:02:15,400 --> 00:02:19,280 Speaker 4: gold and silver really benefiting from geopolitical tensions as the 46 00:02:19,320 --> 00:02:21,800 Speaker 4: beginning of the year because there was this whole theme 47 00:02:21,840 --> 00:02:24,760 Speaker 4: of a rush to save haven assets. But now there's 48 00:02:24,800 --> 00:02:27,480 Speaker 4: a rebound in the US dollar, there's those higher oil 49 00:02:27,520 --> 00:02:30,800 Speaker 4: prices that we've mentioned, those inflation concerns and all of 50 00:02:30,800 --> 00:02:33,800 Speaker 4: that have triggered a pullback in some of those prices. 51 00:02:33,880 --> 00:02:36,760 Speaker 4: And so what we're seeing today is precious metals prices 52 00:02:36,800 --> 00:02:40,000 Speaker 4: retreating and as a result, hitting those share prices of 53 00:02:40,040 --> 00:02:42,680 Speaker 4: the likes of Fresno and Anglo American and all of 54 00:02:42,720 --> 00:02:45,440 Speaker 4: those big miners that has seen actually of really good 55 00:02:45,480 --> 00:02:48,280 Speaker 4: performance at the beginning of the year, and so basic 56 00:02:48,320 --> 00:02:51,800 Speaker 4: resources is one of the worst performing sectors at this morning, 57 00:02:51,880 --> 00:02:55,040 Speaker 4: and Fresno in particular, it's done quite a bit okay. 58 00:02:55,160 --> 00:02:59,120 Speaker 3: And we're also looking at the German chemicals company. This 59 00:02:59,280 --> 00:03:01,760 Speaker 3: is Lengths and the latest from them. 60 00:03:02,400 --> 00:03:04,680 Speaker 1: Yeah, chemical sector is a tough one to be in 61 00:03:04,960 --> 00:03:05,359 Speaker 1: right now. 62 00:03:05,400 --> 00:03:07,919 Speaker 4: There's essentially a lot of over capacity and not enough 63 00:03:07,960 --> 00:03:10,760 Speaker 4: demand and that is really dragging down those prices. And 64 00:03:10,840 --> 00:03:14,000 Speaker 4: Anxis is a company that makes things like plastics and 65 00:03:14,120 --> 00:03:16,800 Speaker 4: rubber and it's one of the victims of that, and 66 00:03:16,880 --> 00:03:20,160 Speaker 4: profit fell massively from a year earlier, and it seems 67 00:03:20,200 --> 00:03:23,440 Speaker 4: that things really aren't getting any better anytime soon. So 68 00:03:23,880 --> 00:03:26,760 Speaker 4: it announced today a new cost cutting program that is 69 00:03:26,800 --> 00:03:30,880 Speaker 4: targeting about one hundred million euros in annual savings by 70 00:03:31,160 --> 00:03:33,720 Speaker 4: twenty twenty eight, and part of that is going to 71 00:03:33,760 --> 00:03:36,680 Speaker 4: be getting rid of five hundred and fifty jobs. And 72 00:03:37,160 --> 00:03:39,560 Speaker 4: you know, some of those companies in the chemical sector 73 00:03:39,880 --> 00:03:42,240 Speaker 4: will start seeing some benefits at some point of the 74 00:03:42,280 --> 00:03:46,280 Speaker 4: big infrastructure investments that our due to be happening in Germany, 75 00:03:46,880 --> 00:03:49,760 Speaker 4: but LANs has said that that will not be seen 76 00:03:49,840 --> 00:03:51,680 Speaker 4: before the second half of the year, so there's a 77 00:03:51,720 --> 00:03:54,600 Speaker 4: little bit to wait until some of those benefits come through. 78 00:03:54,880 --> 00:03:56,720 Speaker 4: And then a big concern is that a lot of 79 00:03:56,720 --> 00:04:00,160 Speaker 4: those companies in that chemicals industry have been struggling with 80 00:04:00,240 --> 00:04:03,240 Speaker 4: high energy prices, and as we just mentioned earlier, those 81 00:04:03,280 --> 00:04:06,040 Speaker 4: are rising very sharply at the moment, so that'll be 82 00:04:06,040 --> 00:04:07,840 Speaker 4: a continuing challenge. 83 00:04:08,360 --> 00:04:12,600 Speaker 2: The Stockmovers Report from Bloomberg Radio. 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