Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Movers Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg data.
Speaker 1: Let's take a look at some stocks on the move
Speaker 1: today in Europe. I'm Stephen Caroll with Lizzie Burden, and
Speaker 1: we're joined by Bloomberg's Caroline Hepker. Caroline, good to talk
Speaker 1: to you. We're looking, of course at European stock surging
Speaker 1: to this new record high. Who's benefiting from it?
Speaker 3: Yeah, Well, first of all, if you look at the
Speaker 3: traveler leisure sector that's obviously seeing big games this morning,
Speaker 3: so tooy is by some seven percent this morning. If
Speaker 3: you look at the UBS basket of airlines stocks, they're
Speaker 3: trading at the highest level that we've seen since the
Speaker 3: start of the war, the day before the war and
Speaker 3: the twenty seventh of February. Because of course, hopefully if
Speaker 3: this deal does go through, you'll see lower oil prices
Speaker 3: and therefore that being fed into lower jet fuel prices.
Speaker 3: So Lufthansa, Brian Air all benefiting. Also, I know the
Speaker 3: Deutsche Bank strategists have overall closed their relative preference for
Speaker 3: US stogs over their European counterparts, which I think is
Speaker 3: quite interesting. So this again goes to the narrative that
Speaker 3: many people had pointed to if there were a resolution
Speaker 3: to the war in the Middle East that actually might
Speaker 3: be Europe that would become more attractive. So at least
Speaker 3: Deutsche Bank strag is saying that today let's talk about
Speaker 3: the losers then, Caroline, Obviously it's going to be energy
Speaker 3: who's getting baded this morning. Yeah, it's the likes of
Speaker 3: Equinor and Akka BP and var Energy, but also total
Speaker 3: energies are down sort of between four and six percent.
Speaker 3: These are amongst the worst performers. Obviously, they have been
Speaker 3: beneficiaries as we have seen the oil prize shoot up
Speaker 3: from around seventy to seventy two dollars a bour all
Speaker 3: the way to a hive above one hundred and twenty
Speaker 3: six dollars about at the end of April, that for
Speaker 3: brank food futures. And so now those big profits perhaps
Speaker 3: will be tempered as maybe the flow of oil barrels
Speaker 3: through the Strait of Hormus is resumed.
Speaker 1: Yeah, indeed, of course that's one of the key details.
Speaker 1: We're waiting to see how that might work out. As well,
Speaker 1: but you've also been looking at shares in the shipping
Speaker 1: giant mark this morning, which are trading lower.
Speaker 3: Yeah. Absolutely, Marse trading lower again because we saw shipping
Speaker 3: rates spike so much higher that Musk saw benefits of that.
Speaker 3: And so now the big question mark is how quickly
Speaker 3: the shipping routes will actually resume. This still seems really
Speaker 3: quite uncertain, and how quickly those not just the oil
Speaker 3: tankers but all other sorts of shipping will resume. We
Speaker 3: know that this is meant a big dent for things
Speaker 3: like the shipping of a fertilizer products that has a
Speaker 3: huge impact globally. So MRSK is one of the decliners
Speaker 3: again because maybe we'll see a normalization of shipping routes.
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