WEBVTT - Iran Moves: BP, IAG, Anglo American 

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio News, The.

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<v Speaker 2>Stock Movers Report, your roundup of companies making moves in

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<v Speaker 2>the stock market, harnessing the power of Bloomberg Data.

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<v Speaker 3>Let's take a look now at some stocks on the

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<v Speaker 3>move today in Europe. I'm Stephen Carroll and I'm joined

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

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<v Speaker 3>Let's start then with the moves that we are seeing

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<v Speaker 3>in energy companies and the oil majors. As oil prices

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<v Speaker 3>have spiked this morning.

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<v Speaker 1>Indeed, yeah, the main focus of the market this morning,

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<v Speaker 1>as say, oil prices spiked, surging past one hundred dollars

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<v Speaker 1>a barrel. That's as more Middle Eastern countries are starting

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

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<v Speaker 1>storage storages filling up due to the closure of homas,

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<v Speaker 1>and so more countries are starting to reduce the output.

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<v Speaker 1>The UAE Kuwait joining a rock with that, of course,

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

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<v Speaker 1>there's talks later today between the G seven finance ministers.

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<v Speaker 1>They're going to talk about coordinating or potentially coordinating release

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<v Speaker 1>of oil reserves. That has taken some slight heat out

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<v Speaker 1>of the market, but essentially there's no signs of de

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<v Speaker 1>escalation in the Middle East. Oil prices are surging and

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<v Speaker 1>if you look at markets BP and Shell in London

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<v Speaker 1>rising this morning, some of the only rises on the

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<v Speaker 1>foot seat one hundred this morning. And then you look

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<v Speaker 1>kind of widely more across Europe, you've got the likes

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<v Speaker 1>of equinorvar Energy, both in Oslo also rising into the

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<v Speaker 1>green on the back of this. So as you say

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<v Speaker 1>energy oil companies benefiting from these this surgeon pricing.

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<v Speaker 3>Indeed, another story of course being told of across the

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<v Speaker 3>airline shares this morning.

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<v Speaker 1>Yeah, they're at the other end of the scale, so

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<v Speaker 1>this is really hitting airlines even further. Obviously, fuel costs

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<v Speaker 1>will increase on the back of this. This is on

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<v Speaker 1>top of a host of other woes the airlines are

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<v Speaker 1>facing on the back of the Middle East water. More

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<v Speaker 1>than twenty seven thousand canceled flights, jets are displaced across

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<v Speaker 1>the world. Routes are changing. You know that these could

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<v Speaker 1>potentially become more expensive because they have to go via

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<v Speaker 1>longer routes to get to the destination. So total disruption

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<v Speaker 1>of the aviation industry and this surgeon in costs this morning.

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

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<v Speaker 1>easy Jet all down across Europe to down more than

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<v Speaker 1>three percent, air fronts down about five percent, So hitting

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<v Speaker 1>the airlines today.

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<v Speaker 3>And what about the wider commodity space and the miners,

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<v Speaker 3>the likes of Anglo American.

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

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<v Speaker 1>pressure across Europe today. There was a note from JP

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<v Speaker 1>Morgan which is kind of hitting that wider commodity sector. Essentially,

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<v Speaker 1>they've reversed what was previously quite a positive view on

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<v Speaker 1>the sector and they're saying that the impact of the

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<v Speaker 1>Middle East is yet to be fully discounted. So they

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<v Speaker 1>highlighted the Russia Ukraine war and the precedent that that

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<v Speaker 1>had that set on the sector, and they said that

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<v Speaker 1>the reaction so far in the commodities and the miners

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<v Speaker 1>seems to be benign from the Middle East war. So

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<v Speaker 1>while they still see quite what they say, compelling longer

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<v Speaker 1>term outlook, particularly for copper, and they're still very bullish

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

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<v Speaker 1>So they issued a lot of downgrades across the sector,

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<v Speaker 1>mostly concentrating on copper and on steels. As you say,

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<v Speaker 1>Anglo American Antofagasta Rio Tinto all Cut Anglo leading the

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<v Speaker 1>drags on the Footsie hundred this morning, and then across Europe

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<v Speaker 1>basic resources the Basic resources index was the worst performer.

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<v Speaker 1>What is the worst perform on the stocks six hundred,

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<v Speaker 1>so a lot of pressure there.

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