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>> The Stock Movers Report, your roundup of

companies making moves in the stock

market, harnessing the power of

Bloomberg data. Let's take a look now at

some stocks on the move today in Europe.

I'm Steven Carroll and I'm joined by

Bloomberg's breaking news editor, Louise

Moon. Louise, good morning. Let's start

then with the moves that we are seeing

in energy companies and the oil majors

as oil prices have spiked this morning.

Indeed. Yeah. The main focus of the

market this morning I say oil prices

spike surging past $100 a barrel. That's

as more Middle Eastern countries are

starting to cut their output.

Essentially there's not enough space for

storage. Storage is filling up uh due to

the closure of Humr. Um and so more

countries are starting to reduce their

output. the UAE Kuwait joining Iraq with

that. Of course, others might be forced

to also do the same going forward. Now,

there's there's uh talks later today

between the G7 finance ministers.

They're going to talk about coordinating

or potentially coordinating release of

oil reserves that has taken some slight

heat out of the market, but essentially

there's no signs of deescalation in the

Middle East. Oil prices are surging. And

if you look at markets, BP and Shell in

London rising this morning, some of the

only risers on the Footsie 100 this

morning. Um, and then you look kind of

widely more across Europe. You've got

the likes of Ecuanova Energy both in

Oslo also uh rising into the green on

the back of this. So, as you say, energy

uh oil companies benefiting from these

this this uh this surge in pricing.

>> Indeed. Another story of course being

told though across the airline shares

this morning.

>> Yeah, they're at the other end of the

scale. So this is really hitting

airlines even further. Obviously fuel

costs will increase on the back of this.

This is on top of a host of other wos uh

that airlines are facing on the back of

the Middle East war. So more than 27,000

canceled flights, jets are displaced

across the world. Routes are changing.

You know that they these could

potentially become more expensive

because they have to go uh via longer

routes to get to the the destination. So

total disruption of the aviation

industry and this this uh surge in in

cost this morning adding to that. So

you've got uh in London, I AG, Ryan Air,

Whizzer, EasyJet all down across Europe

uh TUI down more than 3%, Air France

down about 5%. Uh so hitting the

airlines today.

>> And what about the the wider commodity

space and the miners, the likes of

Anglo-American?

Yeah, it's a really uh interesting one

that they're actually under pressure um

across Europe today. There was a note

from JP Morgan which is which is kind of

hitting that wider commodity sector.

Essentially, they've reversed what was

previously quite a positive view on the

sector and they're saying that the

impact of the Middle East is yet to be

fully discounted. So they highlighted

the Russia Ukraine Ukraine war and the

precedent that that had or that that set

um on the sector and they said that the

reaction so far in the commodities and

the miners seems to be benign from from

the Middle East war. So while they still

see quite a what they say compelling

longerterm outlook particularly for

copper um and they're still very bullish

on gold uh that's being overshadowed by

these near-term risks. So they issued uh

a lot of downgrades across the sector

mostly concentrating on copper and on

steel. So as you say Anglo-American and

toagaster Riointo all cut Anglo leading

the drags on the footsie 100 this

morning and then across Europe basic

resources the basic resources index was

the worst performer or is the worst

performer on the stocks 600. So a lot of

pressure there.

>> The stock movers report from Bloomberg

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