WEBVTT - Pan African Slides, Nokia Climbs, EasyJet Gains

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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 1>Let's take a look at some of the stocks on

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<v Speaker 1>the move today in Europe. I'm Lizzie Berden in London

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<v Speaker 1>with Stephen Carroll in Brussels, and we're joined by.

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<v Speaker 3>Bloomberg's Teama at a Bio Tea. A good morning.

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<v Speaker 1>I want to start with Easyjets surging this morning after

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<v Speaker 1>what it called a highly opportunistic takeover.

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<v Speaker 3>Bit tell us more.

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<v Speaker 4>Yeah, easy jat really the story of the morning, at

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<v Speaker 4>least as far as Europe is concerned. It's still the

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<v Speaker 4>biggest gainer on the stock six hundred up as much

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<v Speaker 4>as thirteen percent.

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<v Speaker 3>That is the highest in three months.

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<v Speaker 4>And as you mentioned, that's after the Pe firm Castle

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<v Speaker 4>Lake said late on Friday that it's considering an offer

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<v Speaker 4>for the carrier.

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<v Speaker 3>So, in terms of what we know so far.

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<v Speaker 4>Easyjets board hasn't yet engaged in discussions with the firm directly,

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<v Speaker 4>but it does say that it remains confident in its

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<v Speaker 4>own strategy, underpinned by cash protection and a profit outlook.

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<v Speaker 3>But analysts do like this potential move.

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<v Speaker 4>JP Morgan says Castle Lake is credible with a history

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<v Speaker 4>in the European airline sector and also a specialism in

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<v Speaker 4>asset backed investing. Barclay's also noting that the airline industry

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<v Speaker 4>as a whole is navigating a tricky time. We know

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<v Speaker 4>this due to the Iran War, those higher fuel costs,

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<v Speaker 4>and it highlights that their analysis shows that easy Jet

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<v Speaker 4>is trading at the largest discount to net asset value

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<v Speaker 4>of any European airlines, So potentially there is a bigger

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<v Speaker 4>opportunity here for the broader sector in terms of undervaluation

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<v Speaker 4>across European airlines. Perhaps it's a sector to watch more

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<v Speaker 4>closely in the coming weeks. But easy Jet definitely the

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<v Speaker 4>biggest mover on the stocks six hundred this morning, Yeah,

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<v Speaker 4>nearly ten percent.

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<v Speaker 3>Currently.

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<v Speaker 2>Let's go to technology and a perhaps a slightly retro

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<v Speaker 2>name for some Nokia making gains this morning.

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<v Speaker 4>Yeah, the mover up just over three point six percent.

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<v Speaker 4>It's definitely a name today that's getting swept up in

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<v Speaker 4>the AI rally that we're seeing. We can see that

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<v Speaker 4>nineties fashion is back in style at the moment. It

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<v Speaker 4>seems that nineties stocks are as well, at least the

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<v Speaker 4>tech ones. We've seen great reporting on the terminal about

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<v Speaker 4>the likes of Dell and Lenovo also back thanks to

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<v Speaker 4>this unbridled spending that we're seeing in the AI space.

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<v Speaker 4>There's this rush to build out AI infrastructure and it's

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<v Speaker 4>really led to this soaring demand for everything from computer

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<v Speaker 4>servers to storage components, and it means that any stock

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<v Speaker 4>that has any sort of exposure to this area seeing

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<v Speaker 4>a real frenetic rally. So shares in Nokia have surged

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<v Speaker 4>more than one hundred and twenty four percent this year.

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<v Speaker 4>It's the fourth best performer in the stock's six hundred

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<v Speaker 4>and AI spending certainly looks like it's here to stay,

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<v Speaker 4>at least for the time being, so perhaps we'll see

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<v Speaker 4>some more gains for these vintage tech stocks to come.

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<v Speaker 1>Just finally, tore some moves for Pan African Resources as well.

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<v Speaker 4>Yeah, losses across the board from miners. The biggest loser here.

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<v Speaker 4>Pan African Resources down as much as twelve percent.

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<v Speaker 3>That's the most in ten weeks. It is the worst.

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<v Speaker 4>Performer amongst peers, and that's after an operational update which

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<v Speaker 4>came out over the weekend. Projecting that full year production

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<v Speaker 4>would be at the lower range of its guidance. So

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<v Speaker 4>a difficult day for Minus today as we've seen gold

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<v Speaker 4>drop slightly, but Pan African Resources and leading the losses there.

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