1
00:00:02,520 --> 00:00:07,360
Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

2
00:00:08,640 --> 00:00:13,040
Speaker 2: The Stock Movers podcast, your roundup of companies making moves

3
00:00:13,080 --> 00:00:16,480
Speaker 2: in the stock market, harnessing the power of Bloomberg data.

4
00:00:17,600 --> 00:00:19,360
Speaker 3: So have a look at some of the stocks that

5
00:00:19,480 --> 00:00:23,160
Speaker 3: on the move today here in Europe. A very good morning.

6
00:00:23,640 --> 00:00:28,440
Speaker 3: I'm Caroline Hepko alongside Tom McKenzie, so let's dive into this.

7
00:00:28,520 --> 00:00:32,080
Speaker 3: We're joined by Bloomberg's Equities Report at Joe Easton Joe

8
00:00:32,120 --> 00:00:34,720
Speaker 3: Good Morning. We've been discussing the renewed tensions in the

9
00:00:34,720 --> 00:00:37,960
Speaker 3: Middle East after Israel launched these waves of fair strikes

10
00:00:38,000 --> 00:00:43,320
Speaker 3: against Iran's nuclear program. How are stocks perhaps reacting to

11
00:00:43,440 --> 00:00:45,120
Speaker 3: this in Europe.

12
00:00:45,520 --> 00:00:48,760
Speaker 1: Yes, we're seeing a lot of different sectors affected. So

13
00:00:48,880 --> 00:00:51,400
Speaker 1: the kind of obvious space to look at is defense stocks.

14
00:00:51,440 --> 00:00:53,720
Speaker 1: We're seeing it move higher, and the likes of Ryan Mattel,

15
00:00:53,920 --> 00:00:57,920
Speaker 1: RHNBA Systems, STAB, Leonardo, all of the kind of usual

16
00:00:57,920 --> 00:01:01,040
Speaker 1: suspects that we look at whenever they're there are renewed

17
00:01:01,360 --> 00:01:04,000
Speaker 1: geopolitical tensions that will That's what we're seeing today with

18
00:01:04,080 --> 00:01:06,759
Speaker 1: these stocks gaining only around two to three percent. Bear

19
00:01:06,760 --> 00:01:09,040
Speaker 1: in mind this is a sector that has doubled in

20
00:01:09,160 --> 00:01:11,440
Speaker 1: value or even trebled over the past couple of years

21
00:01:11,440 --> 00:01:14,720
Speaker 1: on some of those stocks that I mentioned, So therefore

22
00:01:14,880 --> 00:01:18,720
Speaker 1: a lot of this kind of uncertainty, geopolitical uncertainty priced

23
00:01:18,760 --> 00:01:21,440
Speaker 1: into the market. But it's all about whether this will

24
00:01:21,480 --> 00:01:24,720
Speaker 1: potentially speed up the process of moving closer to the

25
00:01:24,800 --> 00:01:28,200
Speaker 1: NATO targets on defense spending, getting closer to that five

26
00:01:28,240 --> 00:01:31,039
Speaker 1: percent of GDP level. But for today we are seeing

27
00:01:31,080 --> 00:01:32,240
Speaker 1: a boost to those stocks.

28
00:01:33,120 --> 00:01:35,320
Speaker 3: Joe, have there been any moves in the defense space

29
00:01:35,360 --> 00:01:39,560
Speaker 3: and the immediates after math of this unprecedented attack.

30
00:01:39,720 --> 00:01:43,560
Speaker 1: Yes, defense moving higher, but also we do have the

31
00:01:43,600 --> 00:01:45,760
Speaker 1: airline stocks going the other way, so kind of in

32
00:01:45,800 --> 00:01:48,760
Speaker 1: the aerospace and defense sector set airlines, we're seeing air

33
00:01:48,760 --> 00:01:52,800
Speaker 1: France KLM coming down that one around four percent, Leftanza

34
00:01:52,960 --> 00:01:56,320
Speaker 1: dropping four percent, IAG the owner of British Airways, all

35
00:01:56,320 --> 00:01:59,600
Speaker 1: of them dropping. So this is a twofold thing really.

36
00:01:59,600 --> 00:02:03,360
Speaker 1: First of the higher oil price, with oil spiking. Only

37
00:02:03,760 --> 00:02:06,080
Speaker 1: the oil price now last time I checked only up

38
00:02:06,080 --> 00:02:09,200
Speaker 1: around six percent, down from around thirteen percent overnight, but

39
00:02:09,320 --> 00:02:14,400
Speaker 1: that means a potential higher outlook for the jet fuel prices.

40
00:02:14,720 --> 00:02:18,600
Speaker 1: And also the other element is whether this affects airspace

41
00:02:18,639 --> 00:02:20,919
Speaker 1: in the Middle East. It We're still waiting for clarity

42
00:02:21,480 --> 00:02:23,360
Speaker 1: on that, but it's kind of more of a jet

43
00:02:23,400 --> 00:02:26,080
Speaker 1: fuel issue, and therefore those stocks are lower.

44
00:02:27,760 --> 00:02:31,880
Speaker 2: The Stock Movers podcast from Bloomberg Radio. Check back with

45
00:02:31,960 --> 00:02:34,720
Speaker 2: us throughout the day for the latest roundup of companies

46
00:02:34,760 --> 00:02:37,799
Speaker 2: making news on Wall Street and for the latest market

47
00:02:37,840 --> 00:02:42,200
Speaker 2: moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube,

48
00:02:42,240 --> 00:02:45,480
Speaker 2: Bloomberg dot com, and on Applecarplay and Android otto with

49
00:02:45,560 --> 00:02:47,040
Speaker 2: the Bloomberg Business app.