1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:08,560 --> 00:00:12,440 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 00:00:16,200 --> 00:00:17,759 Speaker 1: Well, let's take a look at some stocks on the 5 00:00:17,800 --> 00:00:20,079 Speaker 1: move today in Europe. I'm Stephen Carroll and I'm joined 6 00:00:20,079 --> 00:00:23,560 Speaker 1: by Bloomberg reporter Chloe Melet. Chloe, good morning. So plenty 7 00:00:23,600 --> 00:00:26,680 Speaker 1: of market reaction to the news of the Iran ceasefire. 8 00:00:26,880 --> 00:00:29,160 Speaker 1: Let's start with airlines. The likes of easy Jet among 9 00:00:29,200 --> 00:00:30,640 Speaker 1: those seeing big moves higher. 10 00:00:30,760 --> 00:00:33,000 Speaker 3: Yeah, definitely very much in the green. And the rest 11 00:00:33,040 --> 00:00:35,800 Speaker 3: of that airline sector also doing very well. So that's 12 00:00:35,840 --> 00:00:39,919 Speaker 3: both on both the budget airline side, so easy Jet, Ryanair, 13 00:00:40,280 --> 00:00:43,479 Speaker 3: but also more established players like luftanzo Iag all of 14 00:00:43,479 --> 00:00:46,479 Speaker 3: those and names moving high. And of course you, as 15 00:00:46,479 --> 00:00:49,080 Speaker 3: you mentioned, to the news of the ceasefire with the 16 00:00:49,200 --> 00:00:52,519 Speaker 3: US and around agreeing to this ceasefire in exchange for 17 00:00:52,560 --> 00:00:55,160 Speaker 3: the reopening of the straight off home moves and this 18 00:00:55,280 --> 00:00:57,760 Speaker 3: happened less than two hours before the deadline that was 19 00:00:57,800 --> 00:01:01,400 Speaker 3: imposed by Trump and now by some time for both 20 00:01:01,440 --> 00:01:04,839 Speaker 3: sides to reach a longer term agreement, and that's really 21 00:01:04,840 --> 00:01:08,600 Speaker 3: boosted stocks across the board, but airlines in particular because 22 00:01:08,640 --> 00:01:11,600 Speaker 3: of how vulnerable they had been to the conflict in 23 00:01:11,640 --> 00:01:14,440 Speaker 3: the Middle East, so it had impacted them both in 24 00:01:14,520 --> 00:01:17,440 Speaker 3: terms of the flight cancelations and all of that disruption 25 00:01:17,800 --> 00:01:20,200 Speaker 3: because the Middle East has of course some key aviation 26 00:01:20,319 --> 00:01:23,640 Speaker 3: hubs like Dubai for example. But then also in particularly 27 00:01:23,640 --> 00:01:27,160 Speaker 3: in terms of energy prices, with oil rising meant that 28 00:01:27,440 --> 00:01:30,399 Speaker 3: jet fuel prices were rising, and we'd already seen the 29 00:01:30,440 --> 00:01:33,640 Speaker 3: impact of that with a few airports in Italy, for example, 30 00:01:33,720 --> 00:01:37,120 Speaker 3: restricting access to jet fuel over the last few days 31 00:01:37,160 --> 00:01:40,640 Speaker 3: because of that shortage. So this news of the ceasefire 32 00:01:40,720 --> 00:01:43,360 Speaker 3: comes as a huge relief for airlines, both on that 33 00:01:43,560 --> 00:01:46,320 Speaker 3: energy price front and then also on the flight cancelation front. 34 00:01:46,640 --> 00:01:48,680 Speaker 1: Of course, the news very much in focus too for 35 00:01:48,840 --> 00:01:52,559 Speaker 1: energy companies as well. They had been benefiting from higher 36 00:01:52,680 --> 00:01:56,160 Speaker 1: energy prices, and today we're looking at SHALL among others, yeah. 37 00:01:56,040 --> 00:01:59,240 Speaker 3: Shall BP, all of those struggling quite a bit today. 38 00:01:59,280 --> 00:02:01,680 Speaker 3: Of course, the fact that the Strait of Homos is 39 00:02:01,680 --> 00:02:05,400 Speaker 3: reopening means that the disruption in those global energy supplies 40 00:02:05,480 --> 00:02:07,680 Speaker 3: is going to ease a little bit, and so oil 41 00:02:07,680 --> 00:02:11,480 Speaker 3: prices are falling quite dramatically today, and you know, that 42 00:02:11,560 --> 00:02:14,240 Speaker 3: means that shell BP any all of those names are 43 00:02:14,280 --> 00:02:17,800 Speaker 3: in the red. It's obviously quite a fragile state of affairs. 44 00:02:17,800 --> 00:02:21,000 Speaker 3: Some economists are saying that almost anything going wrong in 45 00:02:21,040 --> 00:02:24,640 Speaker 3: those ceasepire talks could very quickly put oil back above 46 00:02:24,639 --> 00:02:27,160 Speaker 3: one hundred dollars a barrel, but that on the other hand, 47 00:02:27,160 --> 00:02:30,160 Speaker 3: it would take something really major, really tremendous to get 48 00:02:30,200 --> 00:02:33,519 Speaker 3: back down to below eighty a barrel. So the market 49 00:02:33,520 --> 00:02:36,520 Speaker 3: reaction has been quite dramatic. But then on the ground, 50 00:02:36,560 --> 00:02:40,079 Speaker 3: physical traders are still quite cautious. They're waiting for clearer 51 00:02:40,160 --> 00:02:43,160 Speaker 3: science that the ceasefire is actually going to hold before 52 00:02:43,200 --> 00:02:46,120 Speaker 3: are seeking cargoes from the region. And some ship owners 53 00:02:46,120 --> 00:02:49,440 Speaker 3: are also saying they need to see vessels exiting safely 54 00:02:49,919 --> 00:02:52,560 Speaker 3: the region before they send in tankers. So we are 55 00:02:52,600 --> 00:02:55,840 Speaker 3: seeing that maybe that difference between what's happening in the 56 00:02:55,840 --> 00:02:58,400 Speaker 3: market and what's happening on the ground. But in the meantime, 57 00:02:58,440 --> 00:03:00,080 Speaker 3: those oil shares definitely love. 58 00:03:00,440 --> 00:03:02,760 Speaker 1: And one of the aspects of the market reaction to 59 00:03:02,800 --> 00:03:05,120 Speaker 1: the war as well that's been somewhat curious has been 60 00:03:05,200 --> 00:03:09,000 Speaker 1: gold prices haven't been rising in a traditional safe haven trade. 61 00:03:09,000 --> 00:03:12,959 Speaker 1: Now today gold is up over two percent, trading backup 62 00:03:13,000 --> 00:03:15,680 Speaker 1: of four thy eight hundred dollars a barrel. How is 63 00:03:15,680 --> 00:03:17,799 Speaker 1: that affecting mining companies like Fresnil. 64 00:03:18,040 --> 00:03:20,359 Speaker 3: Yeah, Fresnio is higher today. So yeah, as you mentioned, 65 00:03:20,360 --> 00:03:23,000 Speaker 3: since the war started, we've seen gold trading mostly in 66 00:03:23,040 --> 00:03:25,920 Speaker 3: tandem with equities, which meant that when they were in 67 00:03:25,960 --> 00:03:28,400 Speaker 3: the red, gold was also struggling, so it had lost 68 00:03:28,440 --> 00:03:32,320 Speaker 3: some of that traditional safe haven appeal which had really 69 00:03:32,360 --> 00:03:35,560 Speaker 3: benefited from since at the beginning of the year. And 70 00:03:35,600 --> 00:03:38,800 Speaker 3: so that's happening today as well. We're seeing equities and 71 00:03:38,840 --> 00:03:42,880 Speaker 3: gold moving higher together, really rising quite strongly after the 72 00:03:42,920 --> 00:03:46,680 Speaker 3: announcement of the ceasefire, and that's really beneficial for all 73 00:03:46,720 --> 00:03:49,480 Speaker 3: of those miner has been particular those gold miners, so 74 00:03:49,520 --> 00:03:52,920 Speaker 3: we've seen the likes of Fresnio, Oschal Mining and Devon Mining, 75 00:03:53,160 --> 00:03:56,640 Speaker 3: all of those London listed gold miners moving definitely higher 76 00:03:56,680 --> 00:03:59,360 Speaker 3: as alongside those airlines as well. 77 00:04:00,400 --> 00:04:04,640 Speaker 2: The Stockmover's Report from Bloomberg Radio. 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