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 3: Let's talk a little bit about these stocks on the
Speaker 3: move today here in Europe. I'm Caroline Hepget and I'm
Speaker 3: joined by Breaking News editor Louis Moon. Louis good to
Speaker 3: speak to you. Let's drill down into some of the
Speaker 3: gains that we're seeing in the mining space this morning,
Speaker 3: even though the overall European market is down.
Speaker 1: Indeed, yes, so mining stocks are really gaining from this
Speaker 1: rallying commodities that we're seeing. So gold, silver, copper all
Speaker 1: hitting record highs. You know, copper's approaching twelve thousand dollars
Speaker 1: a ton, and mining stocks are gaining on the back
Speaker 1: of this, particularly those with quite significant exposures copper. So
Speaker 1: the likes of in London, BHP, Ria, Tinto, Anglo American
Speaker 1: all higher on the back of this. And if you
Speaker 1: look at the foot ye hundred, you know, mining stocks
Speaker 1: as a whole are leading the index, so really rallying
Speaker 1: on the back of that commodity's gains.
Speaker 3: Okay, so that's interesting. We're also milking you for stocks news.
Speaker 3: You're looking at EU dairy giants.
Speaker 1: Why well, so so China has imposed duties on certain
Speaker 1: dairy products that are being imported from Europe. So these
Speaker 1: duties are up to forty two point seven percent, so
Speaker 1: pretty high. And that's after they add a probe into
Speaker 1: the sector and found that. They say that they found that,
Speaker 1: you know, some of these dairy products were subsidized. They're
Speaker 1: the ones that are being imported from Europe. So this
Speaker 1: is going to be imposed from tomorrow and it's kind
Speaker 1: of the latest a in a bit of a tip
Speaker 1: tap trade dispute between China and the EUS. So if
Speaker 1: you look at the Chinese side of things, their related
Speaker 1: stocks are doing well on the back of this news.
Speaker 1: But obviously if you look at the likes of dan
Speaker 1: On Nesle in Europe, both are very exposed to the
Speaker 1: Chinese market. Both down on the back of this. So
Speaker 1: dan On more so about one point five percent last
Speaker 1: time I checked just just a minute ago, and Nesle
Speaker 1: also down almost one percent as well, So both into
Speaker 1: the red on the back of those those duties that
Speaker 1: will be imposed from China.
Speaker 3: As off tomorrow. Yeah, there's been a real tip for
Speaker 3: tat hasn't there between the EU and China. VU in
Speaker 3: October imposing taras or electric vehicles from China as high
Speaker 3: as forty five percent. So now there's dairy tariffs going
Speaker 3: the other way. Okay. We also mentioned the other the
Speaker 3: other commodities that are gaining, and that is oil. And
Speaker 3: you have Harbor, which is a big UK oil company
Speaker 3: looking abroad. Tell us a bit about that story.
Speaker 2: It is Yees.
Speaker 1: So it's one of the largest oil and gas companies,
Speaker 1: one of the largest producers in the UK North Seat,
Speaker 1: so a big player on this side of the pond.
Speaker 1: They announced a big deal this morning. So they're buying
Speaker 1: a company that's called Lelog Exploration. That's for three point
Speaker 1: two billion US dollars, so two point seven billion will
Speaker 1: be in cash and then five hundred million in voting shares.
Speaker 1: So this company is it's a oil and gas company
Speaker 1: in the US golf of Mexico. So this, as you say,
Speaker 1: this is hard our energy expanding more abroad. They've been
Speaker 1: adding operations abroad. You know, as the North Sea goes
Speaker 1: into decline, there's high taxes, high windfill texas from the
Speaker 1: UK government. There's been a lot of consolidation in the space,
Speaker 1: and they've been establishing more units away from that, so
Speaker 1: the likes of Norway and Argentina as well. So this
Speaker 1: is their entry into the US Golf of Mexico. So
Speaker 1: that's expected to complete in the first quarter of next
Speaker 1: year of twenty twenty six. So, I mean, on the Facebook,
Speaker 1: it looks quite positive, and there was an also a
Speaker 1: note from Blombugo Intelligence saying, you know, there's strong strategic
Speaker 1: rationale for this. It delivers a bit of a portfolio rebalancing,
Speaker 1: as I kind of mentioned, towards the Gulf of Mexico,
Speaker 1: which offers higher margins. You know, it reduces exposure to
Speaker 1: the UK, so all of those factors. But if you
Speaker 1: look at their stock, it was actually down on the news,
Speaker 1: down about seven percent into the red, and traders are
Speaker 1: saying this could be to do with the size of
Speaker 1: the debt they're taking on to finance this deal. So
Speaker 1: we'll be watching for for any more details or you know,
Speaker 1: how the stock continues to react from that. But it's
Speaker 1: a yeah, a play from harbor energy out of the UK,
Speaker 1: pushing and diversifying the portfolio more.
Speaker 2: The Stock Movers report from Bloomberg Radio check back with
Speaker 2: us throughout the day for the latest roundup of companies
Speaker 2: making news on Wall Street, and for the latest market
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,
Speaker 2: Bloomberg dot com, and on Applecarplay and Android Auto with
Speaker 2: the Bloomberg Business app.