WEBVTT - EasyJet Gains, BP Falls, Spire Jumps 

0:00:02.520 --> 0:00:09.960
<v Speaker 1>Bloomberg Audio Studios, Podcasts, radio News. The Stock Movers Report,

0:00:10.240 --> 0:00:13.520
<v Speaker 1>your roundup of companies making moves in the stock market,

0:00:13.680 --> 0:00:16.160
<v Speaker 1>harnessing the power of Bloomberg Data.

0:00:16.320 --> 0:00:18.200
<v Speaker 2>Let's take a look at some stocks on the move

0:00:18.239 --> 0:00:21.280
<v Speaker 2>today in Europe. I'm Rachel Levins with Stephen Carroll. We're

0:00:21.360 --> 0:00:24.800
<v Speaker 2>joined by Bloomberg reporter Tiua at a bio. So too,

0:00:25.079 --> 0:00:28.120
<v Speaker 2>some moves for EasyJet this morning amid rising jet fuel costs,

0:00:28.120 --> 0:00:30.000
<v Speaker 2>which had been obviously driven by the war in the

0:00:30.040 --> 0:00:30.520
<v Speaker 2>Middle East.

0:00:30.600 --> 0:00:34.080
<v Speaker 3>Tell us more about that, yeah, Rachel, So just give

0:00:34.120 --> 0:00:36.639
<v Speaker 3>you some context around these moans for EasyJet. A lot

0:00:36.640 --> 0:00:39.640
<v Speaker 3>of airlines are really struggling at the moment. We're three

0:00:39.680 --> 0:00:41.879
<v Speaker 3>weeks into this conflict in the Middle East and it's

0:00:41.880 --> 0:00:45.839
<v Speaker 3>really upended the entire energy supply chain, and vitally the

0:00:45.880 --> 0:00:48.640
<v Speaker 3>straight of horr moves is all but closed, meaning gasoline

0:00:48.680 --> 0:00:51.920
<v Speaker 3>and jet fuel prices are surging, and we're already seeing

0:00:52.000 --> 0:00:55.400
<v Speaker 3>some elevated airline prices as a result. But actually looking

0:00:55.440 --> 0:00:57.680
<v Speaker 3>at EasyJet today, it's suffer as much as three point

0:00:57.760 --> 0:01:01.680
<v Speaker 3>three percent despite those pressures, and that's because it's amongst

0:01:01.720 --> 0:01:04.800
<v Speaker 3>this sort of group of airlines, including its peer whizz Air,

0:01:05.120 --> 0:01:08.440
<v Speaker 3>which have hedged around sixty to eighty percent of fuel costs,

0:01:08.640 --> 0:01:11.720
<v Speaker 3>and now that leaves them in quite a comparatively good position,

0:01:12.080 --> 0:01:14.800
<v Speaker 3>which is why we're seeing some gains this morning. There's

0:01:14.800 --> 0:01:18.040
<v Speaker 3>an analyst that spoke to Bloomberg that said, even though

0:01:18.040 --> 0:01:21.959
<v Speaker 3>they will be significantly impacted by this jet fuel price

0:01:22.040 --> 0:01:26.200
<v Speaker 3>bike crisis, their risk is materially lower than others, including

0:01:26.240 --> 0:01:29.080
<v Speaker 3>Air Baltic. So these moves are really coming from that

0:01:29.160 --> 0:01:32.360
<v Speaker 3>comparison there. Easy Jet is still affected, but perhaps just

0:01:32.360 --> 0:01:34.400
<v Speaker 3>not as badly as some of its competitors.

0:01:34.840 --> 0:01:37.399
<v Speaker 1>No, okay, really interesting to see how they diverging fortunes

0:01:37.400 --> 0:01:40.760
<v Speaker 1>for different airlines. What about energy market investors too, how

0:01:40.800 --> 0:01:43.440
<v Speaker 1>are they reading the latest moves on the energy prices?

0:01:44.000 --> 0:01:47.280
<v Speaker 3>Yeah, well, we're actually seeing both Shell and BP falling

0:01:47.400 --> 0:01:50.680
<v Speaker 3>this morning. BP is down the most in just about

0:01:50.720 --> 0:01:52.960
<v Speaker 3>ten days, and that's as the price of oil has

0:01:53.040 --> 0:01:55.760
<v Speaker 3>dropped this morning, though we should say it's dropped from

0:01:55.800 --> 0:01:58.440
<v Speaker 3>its highest closing position in more than three and a

0:01:58.440 --> 0:02:01.360
<v Speaker 3>half years, so it's still elevated price is there. But we've

0:02:01.400 --> 0:02:04.600
<v Speaker 3>also heard from the Israeli Prime Minister, benjaminett Nahu, who

0:02:04.640 --> 0:02:08.440
<v Speaker 3>said that his country would no longer target energy infrastructure,

0:02:08.480 --> 0:02:11.840
<v Speaker 3>and that's after its attack on Iranian gas fields has

0:02:12.280 --> 0:02:16.200
<v Speaker 3>sparked retaliation. So perhaps this brief lull for some of

0:02:16.240 --> 0:02:18.560
<v Speaker 3>the all in gas majors is a sign that investors

0:02:18.560 --> 0:02:21.960
<v Speaker 3>are maybe beginning to price in this restraint. Definitely something

0:02:21.960 --> 0:02:22.519
<v Speaker 3>to watch there.

0:02:23.360 --> 0:02:25.440
<v Speaker 2>And away from the Middle East, we're seeing some m

0:02:25.480 --> 0:02:28.639
<v Speaker 2>and A move for News. It's driving movement for Spire

0:02:28.840 --> 0:02:30.639
<v Speaker 2>Health Group. Can tell us a bit more about what's

0:02:30.680 --> 0:02:31.320
<v Speaker 2>going on there.

0:02:31.600 --> 0:02:35.080
<v Speaker 3>Yeah, so this is the UK private healthcare provider, Spire.

0:02:35.200 --> 0:02:37.720
<v Speaker 3>It's absolutely soaring this morning, it was up as much

0:02:37.720 --> 0:02:40.160
<v Speaker 3>as eleven percent and that's on the back of some

0:02:40.400 --> 0:02:43.400
<v Speaker 3>m and A news. So Sky News is reporting that

0:02:43.440 --> 0:02:46.840
<v Speaker 3>the buyout firm Bridge Point is drawing up proposals for

0:02:46.919 --> 0:02:51.000
<v Speaker 3>an offer worth one billion. That's without specifying where it

0:02:51.080 --> 0:02:53.600
<v Speaker 3>learned the information, but according to Sky we're unlikely to

0:02:53.639 --> 0:02:56.240
<v Speaker 3>see a formal offer ahead of the deadline which has

0:02:56.240 --> 0:03:00.399
<v Speaker 3>been set by the UK Mergers Regulator that's five pm tomorrow,

0:03:00.720 --> 0:03:03.560
<v Speaker 3>So that means there's likely to be a further extension

0:03:03.600 --> 0:03:07.160
<v Speaker 3>to this process. But this is the latest development in

0:03:07.200 --> 0:03:10.600
<v Speaker 3>the story. We heard Spy confirm in January that it

0:03:10.800 --> 0:03:14.960
<v Speaker 3>was in preliminary talks with firms including Bridgepoint and Tritus,

0:03:15.000 --> 0:03:17.919
<v Speaker 3>so it seems we're further along in those discussions now,

0:03:17.960 --> 0:03:21.560
<v Speaker 3>but certainly so far, the market is reacting positively to

0:03:21.600 --> 0:03:22.480
<v Speaker 3>this potential bio.

0:03:23.360 --> 0:03:27.400
<v Speaker 1>The Stock Movers report from Bloomberg Radio. Check back with

0:03:27.480 --> 0:03:30.040
<v Speaker 1>us throughout the day for the latest roundup of companies

0:03:30.120 --> 0:03:33.200
<v Speaker 1>making news on Wall Street and for the latest market

0:03:33.240 --> 0:03:37.720
<v Speaker 1>moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

0:03:37.800 --> 0:03:41.320
<v Speaker 1>Bloomberg dot com, and on Applecarplay and Android Auto with

0:03:41.360 --> 0:03:42.880
<v Speaker 1>the Bloomberg Business app.