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Let's take a look at some stocks on the move today in Europe. I'm Stephen Carol and I'm joined by Bloomberg's Breaking News editor Louise Moon. Louise, let's start then, that big move lower in oil prices today. How is it affecting the oil majors.
Indeed, yeah, so if you look at the likes of Shell BP in London falling today. Obviously they surged yesterday on kind of reflecting the moves in oil prices, but as oil declines today after you know Trump's bid to car markets promising a quick end to the conflict, among other comments, those prices are falling. If you look at a Ramco over in the Middle East, it's a slightly separate story for them. They've actually the shares a rising
for them this morning. They've approved a three billion dollar buy back, which is quite surprised. It's their first ever buyback since they listed in twenty nineteen, and they've also raised their dividend. Obviously, this is partly trying to kind of shore up sentiment. They've had a number of huge setbacks during this war so far, so they've pared back output. They've shut down one of Saudi Arabia's biggest oil refineries after a drone attack, so they're partly trying to kind
of shore up sentiment. Obviously as well, that higher payout will benefit the Saudi government and the Sovereign Wealth Fund. They depend quite heavily on that for economic reasons, so that was quite an interesting one for them. So shares up, and that's despite their CEO warning that, you know, the impact on the global oil markets will be catastrophic in his words, the longer the war drags on.
Yeah, okay, so that's the oil company. It's what about airlines then, you've been looking in particular at Ryan.
Air Yeah, quite an interesting one. So shares kind of across the board actually rising today for airlines obviously despite the higher oil prices, even though paed back as I say, slightly today. So Ryan A shares a rising alongside IAG
in particular. That's after a note from Bernstein analysts saying that both are actually best protected in the industry from the Middle East conflict and the impact on fuel costs, So they're saying that Ryana's balance sheet is the industry's strongest, and they say that IAG spends much less of its revenue on fuel just as a factor bit of it being a network airline, So they're actually saying that they're both kind of shielded the best from this and from
the volatility. On the other end of the scale, the analysts are saying that Air France KLM and wizz Air have the most exposure. That's partly due to their higher leverage, but still shares for those two companies are still up, so quite ups across the industry. The analysts I will also mention they did caution that, you know, they cautioned over the longer term risk of the market depending on oil prices and how elevated they remain going forward.
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