1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:16,160 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,320 --> 00:00:17,960 Speaker 3: Let's take a look at some stocks on the move 5 00:00:18,000 --> 00:00:20,439 Speaker 3: today in Europe. I'm Stephen Carroll with Anna Edwards and 6 00:00:20,480 --> 00:00:23,840 Speaker 3: we're joined by Bloomberg's Breaking These editor Louise Louise. Good morning. 7 00:00:24,000 --> 00:00:26,600 Speaker 3: Of course, plenty of market reaction to the ceasefire news 8 00:00:26,840 --> 00:00:31,280 Speaker 3: between the US and Iran. Let's start with airlines. Plenty 9 00:00:31,280 --> 00:00:33,159 Speaker 3: of reaction there. How are the likes of Ryan Air 10 00:00:33,240 --> 00:00:34,080 Speaker 3: doing exactly? 11 00:00:34,159 --> 00:00:36,760 Speaker 1: Yeah, So airlines as a whole are soaring on the 12 00:00:36,760 --> 00:00:39,840 Speaker 1: back of this news. Obviously, they've been severely disrupted since 13 00:00:39,880 --> 00:00:43,159 Speaker 1: the war began. You know, firstly, major connection hubs have 14 00:00:43,240 --> 00:00:45,880 Speaker 1: been disrupted, so flight's been canceled, re routed. And then 15 00:00:45,920 --> 00:00:50,000 Speaker 1: also high energy prices and constrained supplies of fuel. So 16 00:00:50,080 --> 00:00:53,199 Speaker 1: both of those, all of those factors have been hitting airlines. 17 00:00:53,240 --> 00:00:55,480 Speaker 1: And so today, on the back of this news, airlines 18 00:00:55,520 --> 00:00:58,400 Speaker 1: as a whole are soaring. They're making up ground, but 19 00:00:58,440 --> 00:01:01,440 Speaker 1: they haven't, you know, fully recouped what they have lost 20 00:01:01,800 --> 00:01:04,520 Speaker 1: since the war begam But as you say, Ryanair one 21 00:01:04,560 --> 00:01:06,800 Speaker 1: of the key ones, up eleven as much as eleven 22 00:01:06,840 --> 00:01:10,440 Speaker 1: percent this morning. Easy yet similar moves. IAG, the owner 23 00:01:10,440 --> 00:01:13,959 Speaker 1: of British Airways, up about eight percent. And then this 24 00:01:14,040 --> 00:01:15,800 Speaker 1: has been seen not just in London but across all 25 00:01:15,800 --> 00:01:18,560 Speaker 1: of Europe. So in Germany you've got tuy which rose 26 00:01:18,600 --> 00:01:21,160 Speaker 1: about twelve percent, of Hanza about ten per cents, all 27 00:01:21,200 --> 00:01:23,959 Speaker 1: sowing on the back of this news. So as I say, 28 00:01:23,959 --> 00:01:27,160 Speaker 1: it hasn't totally made up their losses. They've had severe 29 00:01:27,200 --> 00:01:29,959 Speaker 1: losses really since in their stock since the since the 30 00:01:29,959 --> 00:01:31,840 Speaker 1: warbgam but making some headway there. 31 00:01:32,360 --> 00:01:34,119 Speaker 4: And let's just talk to the talk about the other 32 00:01:34,240 --> 00:01:36,480 Speaker 4: end of that trade. I suppose Louise and that's the 33 00:01:36,600 --> 00:01:40,200 Speaker 4: energy sector. It's really under pressure today. Oil price is 34 00:01:40,240 --> 00:01:42,600 Speaker 4: considerably weaker. And we've also heard from Shell. 35 00:01:43,000 --> 00:01:46,959 Speaker 1: Yeah, so Shell had their first quarter production update, which 36 00:01:47,040 --> 00:01:49,520 Speaker 1: is significant in the sense of their the first kind 37 00:01:49,560 --> 00:01:53,760 Speaker 1: of oil major to report to report official numbers since 38 00:01:53,880 --> 00:01:56,120 Speaker 1: since the war broke out. So they have said that 39 00:01:56,120 --> 00:01:58,840 Speaker 1: the oil trading was in their word, significantly higher than 40 00:01:58,880 --> 00:02:01,360 Speaker 1: the previous quarters of profiting on the back of that 41 00:02:01,440 --> 00:02:06,000 Speaker 1: volatile market, but doing little to move their shares in 42 00:02:06,080 --> 00:02:09,040 Speaker 1: any positive direction. As you say, the focus is on 43 00:02:09,400 --> 00:02:13,000 Speaker 1: oil's oil companies, you know, tracking that the stock in 44 00:02:13,120 --> 00:02:16,800 Speaker 1: overall oil prices. So Shell shares down almost about seven 45 00:02:16,840 --> 00:02:20,079 Speaker 1: percent BP about eight percent, and they're both kind of 46 00:02:20,120 --> 00:02:22,800 Speaker 1: the key drags on the foot see hundred this morning. 47 00:02:23,160 --> 00:02:25,640 Speaker 1: And again this is being seen all across Europe and 48 00:02:25,720 --> 00:02:27,880 Speaker 1: also kind of in a similar way to airlines. It's 49 00:02:27,880 --> 00:02:30,639 Speaker 1: that reversal of what's happened before. So oil has been, 50 00:02:31,280 --> 00:02:34,520 Speaker 1: oil firms have been, you know that their shares have 51 00:02:34,600 --> 00:02:37,160 Speaker 1: sawed since since the spagan and now they're seeing a 52 00:02:37,200 --> 00:02:40,440 Speaker 1: bit of a reversal of that, but again not a 53 00:02:40,480 --> 00:02:41,680 Speaker 1: full reversal, bit a bit of that. 54 00:02:41,880 --> 00:02:43,959 Speaker 3: Yeah, and of course want to watch Clothes through the 55 00:02:44,040 --> 00:02:46,400 Speaker 3: day as well, but away from the news coming out 56 00:02:46,440 --> 00:02:49,400 Speaker 3: of the Middle East, some moves for Clothes Brothers this morning. 57 00:02:49,480 --> 00:02:53,359 Speaker 1: Yes, so non Middle East related Close Brothers shares sawed 58 00:02:53,400 --> 00:02:55,880 Speaker 1: as much as twenty three percent in early trading and 59 00:02:55,880 --> 00:02:58,919 Speaker 1: they're still off about sixteen percent. That's after they said 60 00:02:58,919 --> 00:03:01,320 Speaker 1: that they can cover the what they estimate the cost 61 00:03:01,400 --> 00:03:04,120 Speaker 1: to be related to the motor finance scandal that's been 62 00:03:04,160 --> 00:03:06,480 Speaker 1: ongoing in the UK. So this is the amount that 63 00:03:06,480 --> 00:03:10,079 Speaker 1: Close Brothers will will have to compensate customers that were 64 00:03:10,080 --> 00:03:12,960 Speaker 1: missold car loans. This is all based on the latest 65 00:03:13,000 --> 00:03:15,480 Speaker 1: guidance from the FCA, which came out last week. So 66 00:03:15,560 --> 00:03:18,240 Speaker 1: Close Brothers expects to face a three hundred and twenty 67 00:03:18,320 --> 00:03:21,040 Speaker 1: million hit, which they say is broadly similar to the 68 00:03:21,040 --> 00:03:23,760 Speaker 1: provisions that they kind of laid out in January. So 69 00:03:24,040 --> 00:03:26,600 Speaker 1: they say no provision changes have been recognized and they 70 00:03:26,600 --> 00:03:29,400 Speaker 1: think that they can absorb that. It's slightly more than 71 00:03:29,400 --> 00:03:31,120 Speaker 1: they said in January. They said that can be absorbed 72 00:03:31,120 --> 00:03:36,720 Speaker 1: by existing resources. They're one of the most exposed lenders 73 00:03:36,760 --> 00:03:40,040 Speaker 1: to this, so very you know, their stock is very 74 00:03:40,040 --> 00:03:44,000 Speaker 1: reactive for news on this. But obviously other banks, you know, 75 00:03:44,560 --> 00:03:46,520 Speaker 1: a host of other banks also affected, and billions has 76 00:03:46,560 --> 00:03:49,320 Speaker 1: been set aside to compensate customers. But for Close Brothers 77 00:03:49,320 --> 00:03:51,680 Speaker 1: in particularly very exposed and also quite a boost after 78 00:03:52,120 --> 00:03:55,720 Speaker 1: there was a report by short sellar Visory Research relatively 79 00:03:55,720 --> 00:03:59,280 Speaker 1: recently claiming that Close Brothers' provisions were too small. So 80 00:03:59,320 --> 00:04:01,800 Speaker 1: this is obviously countering that, so as I say, shares 81 00:04:01,880 --> 00:04:02,760 Speaker 1: soaring on the back of that. 82 00:04:02,720 --> 00:04:07,920 Speaker 2: In London, the Stockmovers report from Bloomberg Radio. Check back 83 00:04:07,920 --> 00:04:10,160 Speaker 2: with us throughout the day for the latest roundup of 84 00:04:10,200 --> 00:04:13,520 Speaker 2: companies making news on Wall Street and for the latest 85 00:04:13,520 --> 00:04:17,760 Speaker 2: market moving headlines. Listen to Bloomberg Radio Live. 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