1 00:00:02,560 --> 00:00:07,400 Speaker 1: Bloomberg Audio Studios, podcasts, radio News. 2 00:00:08,560 --> 00:00:12,480 Speaker 2: The Stock Movers Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,520 --> 00:00:18,840 Speaker 3: Let's talk a little bit about these stocks on the 5 00:00:18,880 --> 00:00:21,320 Speaker 3: move today here in Europe. I'm Caroline Hepget and I'm 6 00:00:21,400 --> 00:00:24,959 Speaker 3: joined by Breaking News editor Louis Moon. Louis good to 7 00:00:24,960 --> 00:00:27,560 Speaker 3: speak to you. Let's drill down into some of the 8 00:00:27,600 --> 00:00:30,480 Speaker 3: gains that we're seeing in the mining space this morning, 9 00:00:30,520 --> 00:00:32,800 Speaker 3: even though the overall European market is down. 10 00:00:33,800 --> 00:00:36,800 Speaker 1: Indeed, yes, so mining stocks are really gaining from this 11 00:00:37,440 --> 00:00:40,720 Speaker 1: rallying commodities that we're seeing. So gold, silver, copper all 12 00:00:40,800 --> 00:00:44,280 Speaker 1: hitting record highs. You know, copper's approaching twelve thousand dollars 13 00:00:44,920 --> 00:00:49,319 Speaker 1: a ton, and mining stocks are gaining on the back 14 00:00:49,360 --> 00:00:52,519 Speaker 1: of this, particularly those with quite significant exposures copper. So 15 00:00:52,920 --> 00:00:56,320 Speaker 1: the likes of in London, BHP, Ria, Tinto, Anglo American 16 00:00:56,560 --> 00:00:58,960 Speaker 1: all higher on the back of this. And if you 17 00:00:59,000 --> 00:01:01,720 Speaker 1: look at the foot ye hundred, you know, mining stocks 18 00:01:01,960 --> 00:01:05,840 Speaker 1: as a whole are leading the index, so really rallying 19 00:01:06,000 --> 00:01:08,400 Speaker 1: on the back of that commodity's gains. 20 00:01:09,200 --> 00:01:13,480 Speaker 3: Okay, so that's interesting. We're also milking you for stocks news. 21 00:01:13,560 --> 00:01:15,440 Speaker 3: You're looking at EU dairy giants. 22 00:01:15,480 --> 00:01:21,839 Speaker 1: Why well, so so China has imposed duties on certain 23 00:01:21,920 --> 00:01:25,000 Speaker 1: dairy products that are being imported from Europe. So these 24 00:01:25,080 --> 00:01:28,280 Speaker 1: duties are up to forty two point seven percent, so 25 00:01:29,280 --> 00:01:32,240 Speaker 1: pretty high. And that's after they add a probe into 26 00:01:32,480 --> 00:01:35,560 Speaker 1: the sector and found that. They say that they found that, 27 00:01:36,040 --> 00:01:38,039 Speaker 1: you know, some of these dairy products were subsidized. They're 28 00:01:38,040 --> 00:01:40,480 Speaker 1: the ones that are being imported from Europe. So this 29 00:01:40,560 --> 00:01:43,200 Speaker 1: is going to be imposed from tomorrow and it's kind 30 00:01:43,240 --> 00:01:44,920 Speaker 1: of the latest a in a bit of a tip 31 00:01:45,080 --> 00:01:47,920 Speaker 1: tap trade dispute between China and the EUS. So if 32 00:01:47,960 --> 00:01:51,040 Speaker 1: you look at the Chinese side of things, their related 33 00:01:51,040 --> 00:01:53,200 Speaker 1: stocks are doing well on the back of this news. 34 00:01:53,200 --> 00:01:55,320 Speaker 1: But obviously if you look at the likes of dan 35 00:01:55,440 --> 00:01:58,400 Speaker 1: On Nesle in Europe, both are very exposed to the 36 00:01:58,480 --> 00:02:01,480 Speaker 1: Chinese market. Both down on the back of this. So 37 00:02:01,760 --> 00:02:05,960 Speaker 1: dan On more so about one point five percent last 38 00:02:05,960 --> 00:02:08,919 Speaker 1: time I checked just just a minute ago, and Nesle 39 00:02:09,040 --> 00:02:11,280 Speaker 1: also down almost one percent as well, So both into 40 00:02:11,280 --> 00:02:14,160 Speaker 1: the red on the back of those those duties that 41 00:02:14,200 --> 00:02:16,440 Speaker 1: will be imposed from China. 42 00:02:16,200 --> 00:02:18,640 Speaker 3: As off tomorrow. Yeah, there's been a real tip for 43 00:02:18,680 --> 00:02:21,120 Speaker 3: tat hasn't there between the EU and China. VU in 44 00:02:21,160 --> 00:02:25,600 Speaker 3: October imposing taras or electric vehicles from China as high 45 00:02:25,600 --> 00:02:29,280 Speaker 3: as forty five percent. So now there's dairy tariffs going 46 00:02:29,280 --> 00:02:36,320 Speaker 3: the other way. Okay. We also mentioned the other the 47 00:02:36,360 --> 00:02:39,600 Speaker 3: other commodities that are gaining, and that is oil. And 48 00:02:39,760 --> 00:02:43,320 Speaker 3: you have Harbor, which is a big UK oil company 49 00:02:43,800 --> 00:02:46,120 Speaker 3: looking abroad. Tell us a bit about that story. 50 00:02:46,800 --> 00:02:47,320 Speaker 2: It is Yees. 51 00:02:47,400 --> 00:02:49,280 Speaker 1: So it's one of the largest oil and gas companies, 52 00:02:49,400 --> 00:02:51,440 Speaker 1: one of the largest producers in the UK North Seat, 53 00:02:51,480 --> 00:02:53,919 Speaker 1: so a big player on this side of the pond. 54 00:02:54,560 --> 00:02:56,440 Speaker 1: They announced a big deal this morning. So they're buying 55 00:02:56,440 --> 00:02:59,959 Speaker 1: a company that's called Lelog Exploration. That's for three point 56 00:03:00,080 --> 00:03:03,440 Speaker 1: two billion US dollars, so two point seven billion will 57 00:03:03,480 --> 00:03:06,160 Speaker 1: be in cash and then five hundred million in voting shares. 58 00:03:06,400 --> 00:03:11,280 Speaker 1: So this company is it's a oil and gas company 59 00:03:11,360 --> 00:03:13,639 Speaker 1: in the US golf of Mexico. So this, as you say, 60 00:03:13,680 --> 00:03:17,400 Speaker 1: this is hard our energy expanding more abroad. They've been 61 00:03:17,400 --> 00:03:21,440 Speaker 1: adding operations abroad. You know, as the North Sea goes 62 00:03:21,480 --> 00:03:24,000 Speaker 1: into decline, there's high taxes, high windfill texas from the 63 00:03:24,080 --> 00:03:26,040 Speaker 1: UK government. There's been a lot of consolidation in the space, 64 00:03:26,080 --> 00:03:29,040 Speaker 1: and they've been establishing more units away from that, so 65 00:03:29,080 --> 00:03:31,840 Speaker 1: the likes of Norway and Argentina as well. So this 66 00:03:31,880 --> 00:03:33,639 Speaker 1: is their entry into the US Golf of Mexico. So 67 00:03:33,680 --> 00:03:37,040 Speaker 1: that's expected to complete in the first quarter of next 68 00:03:37,120 --> 00:03:41,080 Speaker 1: year of twenty twenty six. So, I mean, on the Facebook, 69 00:03:41,080 --> 00:03:42,560 Speaker 1: it looks quite positive, and there was an also a 70 00:03:42,560 --> 00:03:45,800 Speaker 1: note from Blombugo Intelligence saying, you know, there's strong strategic 71 00:03:45,920 --> 00:03:49,280 Speaker 1: rationale for this. It delivers a bit of a portfolio rebalancing, 72 00:03:49,400 --> 00:03:51,600 Speaker 1: as I kind of mentioned, towards the Gulf of Mexico, 73 00:03:52,000 --> 00:03:54,720 Speaker 1: which offers higher margins. You know, it reduces exposure to 74 00:03:54,720 --> 00:03:56,600 Speaker 1: the UK, so all of those factors. But if you 75 00:03:56,600 --> 00:03:58,720 Speaker 1: look at their stock, it was actually down on the news, 76 00:03:58,800 --> 00:04:02,560 Speaker 1: down about seven percent into the red, and traders are 77 00:04:02,560 --> 00:04:04,240 Speaker 1: saying this could be to do with the size of 78 00:04:04,280 --> 00:04:06,240 Speaker 1: the debt they're taking on to finance this deal. So 79 00:04:06,600 --> 00:04:09,760 Speaker 1: we'll be watching for for any more details or you know, 80 00:04:09,760 --> 00:04:12,240 Speaker 1: how the stock continues to react from that. But it's 81 00:04:12,240 --> 00:04:15,280 Speaker 1: a yeah, a play from harbor energy out of the UK, 82 00:04:15,560 --> 00:04:18,080 Speaker 1: pushing and diversifying the portfolio more. 83 00:04:19,480 --> 00:04:23,520 Speaker 2: The Stock Movers report from Bloomberg Radio check back with 84 00:04:23,600 --> 00:04:26,160 Speaker 2: us throughout the day for the latest roundup of companies 85 00:04:26,240 --> 00:04:29,320 Speaker 2: making news on Wall Street, and for the latest market 86 00:04:29,360 --> 00:04:33,839 Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, 87 00:04:33,920 --> 00:04:37,440 Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with 88 00:04:37,480 --> 00:04:39,000 Speaker 2: the Bloomberg Business app.