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 stocks on the move
Speaker 1: today in Europe. I'm Stephen Carroll with Caroline Hepger and
Speaker 1: we're joined by Bloomberg's Markets Today co editor Sam Onstead. Sam,
Speaker 1: good morning. Let's start with the shipping company ap moll
Speaker 1: or Marsk suspending some bookings in the Middle East, but
Speaker 1: their shares are still higher this morning.
Speaker 3: Yeah, and you know, Stephen, their shares is still higher
Speaker 3: for the same reason that happened a few years ago,
Speaker 3: which is that shipping rates are going absolutely through the roof.
Speaker 3: Tanker rates yesterday pretty much doubled over the course of
Speaker 3: a day to two hundred thousand dollars. This is causing,
Speaker 3: you know, a huge disruption to shipping all over the world,
Speaker 3: as we've been talking about quite a bit in terms
Speaker 3: of the straight uform moves, and you know, it's really
Speaker 3: impacting shipping across the world that serves to send rates higher.
Speaker 3: So although there are clearly some operational challenges that will
Speaker 3: happen for MESK, if those chipping rates remain at that
Speaker 3: kind of higher level, then for the bottom line, it's
Speaker 3: obviously very positive.
Speaker 4: Yeah, absolutely, that's one aspect of this war that we
Speaker 4: are continuing to follow. Obviously very risk off though of
Speaker 4: coross many asset classes, with the concerns about how long
Speaker 4: the conflict is going to last. And let's talk about
Speaker 4: buyers ORF plunging today.
Speaker 3: Why yeah, I mean so in this market, this is
Speaker 3: sort of an individual story, you know, not necessarily totally
Speaker 3: link to everything else. Probably the move for buyers, if
Speaker 3: you're down fourteen percent in early trading this morning, a
Speaker 3: lot of that has been driven by a guidance cut
Speaker 3: from them, weak sales for Nivea, the skincare brand that
Speaker 3: they own. They announced to share buy back. That didn't
Speaker 3: do much to say those concerns. But probably the move,
Speaker 3: you know, may well have been negative anyway. But you're
Speaker 3: in a market at the moment where there is a
Speaker 3: fairly indiscriminate kind of sell off going on, really with
Speaker 3: the exception of just oil and defense companies, and so
Speaker 3: there's probably a slightly more exaggerated move that you would
Speaker 3: normally get there. But even so, this is a company
Speaker 3: that actually has news out and traders are trading specifically
Speaker 3: on that as well, and.
Speaker 1: Of course another difficult day for travel and leisure shares again.
Speaker 1: They're among the worst performers in Europe this morning.
Speaker 3: Yeah, and you know, as Caroline is just kind of mentioning,
Speaker 3: you know, for most sectors that we're going to talk
Speaker 3: about now, the real question, and you know, really across
Speaker 3: all global markets, the question is how long is this
Speaker 3: sustained for how much disruption? Does this this ultimately ultimately
Speaker 3: bring oil prices going up again, will raise quite a
Speaker 3: lot of fears for airlines that their fuel costs are
Speaker 3: going to go higher. And then that obviously combines with
Speaker 3: the huge operational disruption that they're facing from the Middle East,
Speaker 3: and it's particularly in around these kind of super connector
Speaker 3: hubs in the UAE. So for airlines at the moment,
Speaker 3: there's not a great deal of positivity to find almost anywhere,
Speaker 3: and I think you're likely to see them pretty heavy
Speaker 3: under under fire, excuse me, under under pressure over the
Speaker 3: course of the next few days because there's really no
Speaker 3: no great reason for that investors to be buying them at.
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.