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Speaker 1: Bloomberg Audio Studios, podcasts, radio News, The.

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Speaker 2: Stock Movers Report, your roundup of companies making moves in

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Speaker 2: the stock market, harnessing the power of Bloomberg Data.

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Speaker 3: Let's take a look now at some stocks on the

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Speaker 3: move today in Europe. I'm Stephen Carroll and I'm joined

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Speaker 3: by Bloomberg's Breaking News editor Louise Moan and Luise good morning.

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Speaker 3: Let's start then with the moves that we are seeing

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Speaker 3: in energy companies and the oil majors. As oil prices

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Speaker 3: have spiked this morning.

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Speaker 1: Indeed, yeah, the main focus of the market this morning,

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Speaker 1: as say, oil prices spiked, surging past one hundred dollars

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Speaker 1: a barrel. That's as more Middle Eastern countries are starting

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Speaker 1: to cut their output. Essentially, there's not enough space for

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Speaker 1: storage storages filling up due to the closure of homas,

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Speaker 1: and so more countries are starting to reduce the output.

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Speaker 1: The UAE Kuwait joining a rock with that, of course,

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Speaker 1: others might be forced to also do the same going forward. Now,

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Speaker 1: there's talks later today between the G seven finance ministers.

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Speaker 1: They're going to talk about coordinating or potentially coordinating release

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Speaker 1: of oil reserves. That has taken some slight heat out

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Speaker 1: of the market, but essentially there's no signs of de

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Speaker 1: escalation in the Middle East. Oil prices are surging and

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Speaker 1: if you look at markets BP and Shell in London

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Speaker 1: rising this morning, some of the only rises on the

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Speaker 1: foot seat one hundred this morning. And then you look

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Speaker 1: kind of widely more across Europe, you've got the likes

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Speaker 1: of equinorvar Energy, both in Oslo also rising into the

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Speaker 1: green on the back of this. So as you say

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Speaker 1: energy oil companies benefiting from these this surgeon pricing.

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Speaker 3: Indeed, another story of course being told of across the

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Speaker 3: airline shares this morning.

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Speaker 1: Yeah, they're at the other end of the scale, so

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Speaker 1: this is really hitting airlines even further. Obviously, fuel costs

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Speaker 1: will increase on the back of this. This is on

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Speaker 1: top of a host of other woes the airlines are

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Speaker 1: facing on the back of the Middle East water. More

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Speaker 1: than twenty seven thousand canceled flights, jets are displaced across

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Speaker 1: the world. Routes are changing. You know that these could

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Speaker 1: potentially become more expensive because they have to go via

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Speaker 1: longer routes to get to the destination. So total disruption

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Speaker 1: of the aviation industry and this surgeon in costs this morning.

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Speaker 1: Adding to that, So you've got in London, IAG ryanair Wiz,

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Speaker 1: easy Jet all down across Europe to down more than

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Speaker 1: three percent, air fronts down about five percent, So hitting

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Speaker 1: the airlines today.

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Speaker 3: And what about the wider commodity space and the miners,

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Speaker 3: the likes of Anglo American.

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Speaker 1: Yeah, it's a really interesting one that they're actually under

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Speaker 1: pressure across Europe today. There was a note from JP

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Speaker 1: Morgan which is kind of hitting that wider commodity sector. Essentially,

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Speaker 1: they've reversed what was previously quite a positive view on

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Speaker 1: the sector and they're saying that the impact of the

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Speaker 1: Middle East is yet to be fully discounted. So they

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Speaker 1: highlighted the Russia Ukraine war and the precedent that that

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Speaker 1: had that set on the sector, and they said that

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Speaker 1: the reaction so far in the commodities and the miners

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Speaker 1: seems to be benign from the Middle East war. So

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Speaker 1: while they still see quite what they say, compelling longer

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Speaker 1: term outlook, particularly for copper, and they're still very bullish

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Speaker 1: on gold, that's being overshadowed by these near term risks.

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Speaker 1: So they issued a lot of downgrades across the sector,

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Speaker 1: mostly concentrating on copper and on steels. As you say,

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Speaker 1: Anglo American Antofagasta Rio Tinto all Cut Anglo leading the

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Speaker 1: drags on the Footsie hundred this morning, and then across Europe

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Speaker 1: basic resources the Basic resources index was the worst performer.

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Speaker 1: What is the worst perform on the stocks six hundred,

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Speaker 1: so a lot of pressure there.

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Speaker 2: The Stock Movers Report from Bloomberg Radio. Check back with

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Speaker 2: us throughout the day for the latest roundup of companies

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