WEBVTT - Equinor Suffers, Lufthansa Strike, Wise Moves

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

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

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

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<v Speaker 3>Now, let's look at some of the stocks on the

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<v Speaker 3>move today here in Europe. I'm Caroline Hepga and I'm

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<v Speaker 3>joined by Bloomberg Reportaclimba Lake, Good morning, Good morning. Equinor's

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<v Speaker 3>one of the all majors swinging today because of the

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<v Speaker 3>latest twist in the Ivan saga, the failure of those

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<v Speaker 3>talks in Pakistan between the US and Iran.

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<v Speaker 1>Yeah, absolutely, we're seeing oil preally across the board, Equinor, BPNY,

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<v Speaker 1>all of those companies after, as you said, those talks

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<v Speaker 1>between the US and Iran over the weekend failed to

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<v Speaker 1>result in a peace deal. And then also we have

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<v Speaker 1>Trump threatening that blockade of the Strait of Horn moves

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<v Speaker 1>and to that around said that US restrictions on the

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<v Speaker 1>movement of vessels in international waters were illegal and constituted

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<v Speaker 1>an act of piracy. So we're actually coming out of

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<v Speaker 1>this weekend of peace stalks with tension potentially even higher

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<v Speaker 1>and with even more potential disruption on the horizon to

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<v Speaker 1>those global energy markets and supplies, and so we are

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<v Speaker 1>seeing oil and natural gas prices surging in reaction to that,

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<v Speaker 1>of course, and therefore we're seeing those oil companies also surging.

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<v Speaker 1>So we're in a very different position than we were

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<v Speaker 1>just a few days ago when that ceasefire was agreed

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<v Speaker 1>and there was a hope that a more permanent piece

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<v Speaker 1>could potentially be reached. But right now it's more likely

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<v Speaker 1>that this war will be prolonged and widened, and that

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<v Speaker 1>is a boost for energy companies, but not for many

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<v Speaker 1>other sectors.

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<v Speaker 3>Actually, no, indeed, although it must be said, there are

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<v Speaker 3>three tankers that are trying to transit the straight up

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<v Speaker 3>Homers by sailing close to the Ranian coast. Tankers that

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<v Speaker 3>Bloomberg is looking at and keeping abreast of airlines. Meanwhile,

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<v Speaker 3>I've also been hit this morning. But Lufthansa seems especially bad. Why.

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<v Speaker 1>Yeah, so airlines is one of those sectors that is

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<v Speaker 1>really badly affected by the conflict. Of course, we have

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<v Speaker 1>those higher jet fuel prices, those jet fuel shortages as well.

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<v Speaker 1>That's of course very bad news for those airlines, and

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<v Speaker 1>that could get worse if the conflict continues. So Liftansa

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<v Speaker 1>is reacting to that this morning alongside the rest of

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<v Speaker 1>the airlines, but it's also facing an additional challenge, which

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<v Speaker 1>is strike action. So the company is facing a two

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<v Speaker 1>day pilot strike over pensions, and that is just a

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<v Speaker 1>few days after another walkout by cabin crew this time,

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<v Speaker 1>and this is not the first bit of strike action

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<v Speaker 1>that the company has seen this year. We had also

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<v Speaker 1>another pilot strike in February that grounded about eight hundred flights,

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<v Speaker 1>and then there was a two day walkout in March

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<v Speaker 1>as well. So there's been really this ongoing labor action

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<v Speaker 1>for Luftanza and now there's this sort of double whammy

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<v Speaker 1>of disruption from strikes and disruption from geopolitical uncertainty, and

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<v Speaker 1>that's really reflected in those chesterday which have been really

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<v Speaker 1>really weak.

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<v Speaker 3>Yeah, okay, so that's on the airlines. Lastly, though, we

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<v Speaker 3>are tracking stocks moving in Europe. But why seems to

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<v Speaker 3>be moving actually out of European markets.

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<v Speaker 2>Why?

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<v Speaker 1>Yeah? So why is the money transfer company? It announced

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<v Speaker 1>last year that it was intending to shift is primary

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<v Speaker 1>listing from London to the US to the NESTAC and

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<v Speaker 1>today it said that the shift is on track and

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<v Speaker 1>that the listing will be happening this quarter, will be

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<v Speaker 1>happening on May the eleventh, and so we have that,

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<v Speaker 1>and then we also have the twenty four percent increase

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<v Speaker 1>in income in underlying income for the latest quarter that

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<v Speaker 1>it announced today, So both of those things have really

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<v Speaker 1>shown investors that the company is in good shape, that

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<v Speaker 1>it is doing well, and therefore the shares are up

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<v Speaker 1>this morning. The listing is really going to help raise

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<v Speaker 1>the company's profile in the US, which is obviously a

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<v Speaker 1>major market for FinTechs, and Wise has got some big

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<v Speaker 1>plans so recently rolled out every day checking accounts in

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<v Speaker 1>the UK. That's an attempt to kind of take up

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<v Speaker 1>a bit more market share from traditional established banks, and

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<v Speaker 1>then last year also applied to be a directly regulated

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<v Speaker 1>bank in the US, although it's still waiting for a

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<v Speaker 1>decision on that application. So definitely a company to watch

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<v Speaker 1>out for.

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<v Speaker 2>The Stockmovers report from Bloomberg Radio. Check back with us

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