Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. The Stock Movers Report,
Speaker 1: your roundup of companies making moves in the stock market,
Speaker 1: harnessing the power of Bloomberg Data.
Speaker 2: Let's take a look at some stocks on the move
Speaker 2: today in Europe. I'm Rachel Levins with Stephen Carroll. We're
Speaker 2: joined by Bloomberg reporter Tiua at a bio. So too,
Speaker 2: some moves for EasyJet this morning amid rising jet fuel costs,
Speaker 2: which had been obviously driven by the war in the
Speaker 2: Middle East.
Speaker 3: Tell us more about that, yeah, Rachel, So just give
Speaker 3: you some context around these moans for EasyJet. A lot
Speaker 3: of airlines are really struggling at the moment. We're three
Speaker 3: weeks into this conflict in the Middle East and it's
Speaker 3: really upended the entire energy supply chain, and vitally the
Speaker 3: straight of horr moves is all but closed, meaning gasoline
Speaker 3: and jet fuel prices are surging, and we're already seeing
Speaker 3: some elevated airline prices as a result. But actually looking
Speaker 3: at EasyJet today, it's suffer as much as three point
Speaker 3: three percent despite those pressures, and that's because it's amongst
Speaker 3: this sort of group of airlines, including its peer whizz Air,
Speaker 3: which have hedged around sixty to eighty percent of fuel costs,
Speaker 3: and now that leaves them in quite a comparatively good position,
Speaker 3: which is why we're seeing some gains this morning. There's
Speaker 3: an analyst that spoke to Bloomberg that said, even though
Speaker 3: they will be significantly impacted by this jet fuel price
Speaker 3: bike crisis, their risk is materially lower than others, including
Speaker 3: Air Baltic. So these moves are really coming from that
Speaker 3: comparison there. Easy Jet is still affected, but perhaps just
Speaker 3: not as badly as some of its competitors.
Speaker 1: No, okay, really interesting to see how they diverging fortunes
Speaker 1: for different airlines. What about energy market investors too, how
Speaker 1: are they reading the latest moves on the energy prices?
Speaker 3: Yeah, well, we're actually seeing both Shell and BP falling
Speaker 3: this morning. BP is down the most in just about
Speaker 3: ten days, and that's as the price of oil has
Speaker 3: dropped this morning, though we should say it's dropped from
Speaker 3: its highest closing position in more than three and a
Speaker 3: half years, so it's still elevated price is there. But we've
Speaker 3: also heard from the Israeli Prime Minister, benjaminett Nahu, who
Speaker 3: said that his country would no longer target energy infrastructure,
Speaker 3: and that's after its attack on Iranian gas fields has
Speaker 3: sparked retaliation. So perhaps this brief lull for some of
Speaker 3: the all in gas majors is a sign that investors
Speaker 3: are maybe beginning to price in this restraint. Definitely something
Speaker 3: to watch there.
Speaker 2: And away from the Middle East, we're seeing some m
Speaker 2: and A move for News. It's driving movement for Spire
Speaker 2: Health Group. Can tell us a bit more about what's
Speaker 2: going on there.
Speaker 3: Yeah, so this is the UK private healthcare provider, Spire.
Speaker 3: It's absolutely soaring this morning, it was up as much
Speaker 3: as eleven percent and that's on the back of some
Speaker 3: m and A news. So Sky News is reporting that
Speaker 3: the buyout firm Bridge Point is drawing up proposals for
Speaker 3: an offer worth one billion. That's without specifying where it
Speaker 3: learned the information, but according to Sky we're unlikely to
Speaker 3: see a formal offer ahead of the deadline which has
Speaker 3: been set by the UK Mergers Regulator that's five pm tomorrow,
Speaker 3: So that means there's likely to be a further extension
Speaker 3: to this process. But this is the latest development in
Speaker 3: the story. We heard Spy confirm in January that it
Speaker 3: was in preliminary talks with firms including Bridgepoint and Tritus,
Speaker 3: so it seems we're further along in those discussions now,
Speaker 3: but certainly so far, the market is reacting positively to
Speaker 3: this potential bio.
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