WEBVTT - EasyJet Jumps, Shell Drops, Fresnillo Climbs 

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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>Well, let's take a look at some stocks on the

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<v Speaker 1>move today in Europe. I'm Stephen Carroll and I'm joined

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<v Speaker 1>by Bloomberg reporter Chloe Melet. Chloe, good morning. So plenty

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<v Speaker 1>of market reaction to the news of the Iran ceasefire.

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<v Speaker 1>Let's start with airlines. The likes of easy Jet among

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<v Speaker 1>those seeing big moves higher.

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<v Speaker 3>Yeah, definitely very much in the green. And the rest

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<v Speaker 3>of that airline sector also doing very well. So that's

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<v Speaker 3>both on both the budget airline side, so easy Jet, Ryanair,

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<v Speaker 3>but also more established players like luftanzo Iag all of

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<v Speaker 3>those and names moving high. And of course you, as

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<v Speaker 3>you mentioned, to the news of the ceasefire with the

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<v Speaker 3>US and around agreeing to this ceasefire in exchange for

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<v Speaker 3>the reopening of the straight off home moves and this

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<v Speaker 3>happened less than two hours before the deadline that was

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<v Speaker 3>imposed by Trump and now by some time for both

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<v Speaker 3>sides to reach a longer term agreement, and that's really

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<v Speaker 3>boosted stocks across the board, but airlines in particular because

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<v Speaker 3>of how vulnerable they had been to the conflict in

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<v Speaker 3>the Middle East, so it had impacted them both in

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<v Speaker 3>terms of the flight cancelations and all of that disruption

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<v Speaker 3>because the Middle East has of course some key aviation

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<v Speaker 3>hubs like Dubai for example. But then also in particularly

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<v Speaker 3>in terms of energy prices, with oil rising meant that

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<v Speaker 3>jet fuel prices were rising, and we'd already seen the

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<v Speaker 3>impact of that with a few airports in Italy, for example,

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<v Speaker 3>restricting access to jet fuel over the last few days

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<v Speaker 3>because of that shortage. So this news of the ceasefire

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<v Speaker 3>comes as a huge relief for airlines, both on that

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<v Speaker 3>energy price front and then also on the flight cancelation front.

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<v Speaker 1>Of course, the news very much in focus too for

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<v Speaker 1>energy companies as well. They had been benefiting from higher

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<v Speaker 1>energy prices, and today we're looking at SHALL among others, yeah.

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<v Speaker 3>Shall BP, all of those struggling quite a bit today.

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<v Speaker 3>Of course, the fact that the Strait of Homos is

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<v Speaker 3>reopening means that the disruption in those global energy supplies

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<v Speaker 3>is going to ease a little bit, and so oil

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<v Speaker 3>prices are falling quite dramatically today, and you know, that

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<v Speaker 3>means that shell BP any all of those names are

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<v Speaker 3>in the red. It's obviously quite a fragile state of affairs.

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<v Speaker 3>Some economists are saying that almost anything going wrong in

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<v Speaker 3>those ceasepire talks could very quickly put oil back above

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<v Speaker 3>one hundred dollars a barrel, but that on the other hand,

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<v Speaker 3>it would take something really major, really tremendous to get

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<v Speaker 3>back down to below eighty a barrel. So the market

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<v Speaker 3>reaction has been quite dramatic. But then on the ground,

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<v Speaker 3>physical traders are still quite cautious. They're waiting for clearer

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<v Speaker 3>science that the ceasefire is actually going to hold before

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<v Speaker 3>are seeking cargoes from the region. And some ship owners

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<v Speaker 3>are also saying they need to see vessels exiting safely

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<v Speaker 3>the region before they send in tankers. So we are

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<v Speaker 3>seeing that maybe that difference between what's happening in the

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<v Speaker 3>market and what's happening on the ground. But in the meantime,

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<v Speaker 3>those oil shares definitely love.

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<v Speaker 1>And one of the aspects of the market reaction to

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<v Speaker 1>the war as well that's been somewhat curious has been

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<v Speaker 1>gold prices haven't been rising in a traditional safe haven trade.

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<v Speaker 1>Now today gold is up over two percent, trading backup

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<v Speaker 1>of four thy eight hundred dollars a barrel. How is

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<v Speaker 1>that affecting mining companies like Fresnil.

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<v Speaker 3>Yeah, Fresnio is higher today. So yeah, as you mentioned,

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<v Speaker 3>since the war started, we've seen gold trading mostly in

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<v Speaker 3>tandem with equities, which meant that when they were in

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<v Speaker 3>the red, gold was also struggling, so it had lost

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<v Speaker 3>some of that traditional safe haven appeal which had really

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<v Speaker 3>benefited from since at the beginning of the year. And

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<v Speaker 3>so that's happening today as well. We're seeing equities and

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<v Speaker 3>gold moving higher together, really rising quite strongly after the

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<v Speaker 3>announcement of the ceasefire, and that's really beneficial for all

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<v Speaker 3>of those miner has been particular those gold miners, so

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<v Speaker 3>we've seen the likes of Fresnio, Oschal Mining and Devon Mining,

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<v Speaker 3>all of those London listed gold miners moving definitely higher

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<v Speaker 3>as alongside those airlines as well.

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<v Speaker 2>The Stockmover's Report from Bloomberg Radio. Check back with us

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