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 of the stocks on
Speaker 1: the move today in Europe. I'm Lizzie Berden in London
Speaker 1: with Stephen Carroll in Brussels, and we're joined by.
Speaker 3: Bloomberg's Teama at a Bio Tea. A good morning.
Speaker 1: I want to start with Easyjets surging this morning after
Speaker 1: what it called a highly opportunistic takeover.
Speaker 3: Bit tell us more.
Speaker 4: Yeah, easy jat really the story of the morning, at
Speaker 4: least as far as Europe is concerned. It's still the
Speaker 4: biggest gainer on the stock six hundred up as much
Speaker 4: as thirteen percent.
Speaker 3: That is the highest in three months.
Speaker 4: And as you mentioned, that's after the Pe firm Castle
Speaker 4: Lake said late on Friday that it's considering an offer
Speaker 4: for the carrier.
Speaker 3: So, in terms of what we know so far.
Speaker 4: Easyjets board hasn't yet engaged in discussions with the firm directly,
Speaker 4: but it does say that it remains confident in its
Speaker 4: own strategy, underpinned by cash protection and a profit outlook.
Speaker 3: But analysts do like this potential move.
Speaker 4: JP Morgan says Castle Lake is credible with a history
Speaker 4: in the European airline sector and also a specialism in
Speaker 4: asset backed investing. Barclay's also noting that the airline industry
Speaker 4: as a whole is navigating a tricky time. We know
Speaker 4: this due to the Iran War, those higher fuel costs,
Speaker 4: and it highlights that their analysis shows that easy Jet
Speaker 4: is trading at the largest discount to net asset value
Speaker 4: of any European airlines, So potentially there is a bigger
Speaker 4: opportunity here for the broader sector in terms of undervaluation
Speaker 4: across European airlines. Perhaps it's a sector to watch more
Speaker 4: closely in the coming weeks. But easy Jet definitely the
Speaker 4: biggest mover on the stocks six hundred this morning, Yeah,
Speaker 4: nearly ten percent.
Speaker 3: Currently.
Speaker 2: Let's go to technology and a perhaps a slightly retro
Speaker 2: name for some Nokia making gains this morning.
Speaker 4: Yeah, the mover up just over three point six percent.
Speaker 4: It's definitely a name today that's getting swept up in
Speaker 4: the AI rally that we're seeing. We can see that
Speaker 4: nineties fashion is back in style at the moment. It
Speaker 4: seems that nineties stocks are as well, at least the
Speaker 4: tech ones. We've seen great reporting on the terminal about
Speaker 4: the likes of Dell and Lenovo also back thanks to
Speaker 4: this unbridled spending that we're seeing in the AI space.
Speaker 4: There's this rush to build out AI infrastructure and it's
Speaker 4: really led to this soaring demand for everything from computer
Speaker 4: servers to storage components, and it means that any stock
Speaker 4: that has any sort of exposure to this area seeing
Speaker 4: a real frenetic rally. So shares in Nokia have surged
Speaker 4: more than one hundred and twenty four percent this year.
Speaker 4: It's the fourth best performer in the stock's six hundred
Speaker 4: and AI spending certainly looks like it's here to stay,
Speaker 4: at least for the time being, so perhaps we'll see
Speaker 4: some more gains for these vintage tech stocks to come.
Speaker 1: Just finally, tore some moves for Pan African Resources as well.
Speaker 4: Yeah, losses across the board from miners. The biggest loser here.
Speaker 4: Pan African Resources down as much as twelve percent.
Speaker 3: That's the most in ten weeks. It is the worst.
Speaker 4: Performer amongst peers, and that's after an operational update which
Speaker 4: came out over the weekend. Projecting that full year production
Speaker 4: would be at the lower range of its guidance. So
Speaker 4: a difficult day for Minus today as we've seen gold
Speaker 4: drop slightly, but Pan African Resources and leading the losses there.
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