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Now let's have a look at the stocks on the mood today here in Europe. I'm Caroline Hepkin. I'm joined by Bloomberg reporter at Clone Malay. Good morning. So the TSMC earnings out this morning. We've had a tea live blog with all of our writers contributing. The company reporting really a huge surge in terms of income and profits. But that's got to read across into Europe into ASML.
How yeah, absolutely well, I've got to read across the entire chip sector really this morning, led by SML and really reacting to this very upbeat outlook from GSMC, which is the main chip maker to a turn Video and Apple, so it raised its revenue outlook and that really shows the resilience of AI chip demand of investments in AI despite the macro economic impact of the war in Iran, of course, and TSMC also said that capital spending would be towards the upper end of an existing guidance, and
so that really shows a lot of confidence in the outlook, and so that's helped to kind of ease some concerns that higher energy costs would maybe demand for power hungry data centers, and that has really led the chip sector higher, and especially ASML, which derives about seventeen percent of its
sales from TSMC. So essentially, if TSMC is doing well, ASML tends to be doing well as well, and so that is leading the shares hire this morning after there was a little bit of weakness in ASML because its own guidance raise actually was expected by the market, so there was a bit of weakness after the earnings for them. Yeah.
Absolutely, that's really interesting. Let's also think about the airline industry. Both EasyJet and Ryne air shares are quite a lot lower this morning, EasyJet warning shareholders to fasten their seat belts.
Why Yeah, so airlines. Airline shares have of course suffered a lot over the last few weeks because of the war, because of those expectations of higher fuel costs and flight disruptions, and today easy to actually provided a forecast that accounts for all of that disruption and making the impact essentially
a lot more tangible for investors. So it's said that it expects to report a loss, quite quite significant loss in the first half of the year, and said that the conflict had added twenty five pounds in fuel costs in March, and so that has dragged down the shares, But then the rest of that airline and travel sector as well, because they're all going to be dealing with the same challenges. Really, so Ryana and the Red TWI
in the Red as well. And there's no kind of growing urgency around that situation because we're about to enter the summer season, which is of course one of the most important quarters for those companies, and it means, you know that those airlines might have to have a high affairs and that would sap kind of demand, but then it also might mean there's inability to meet that demand
if there are fuel shortage. And Ryanair did say just yesterday that jet fuel supplies were guaranteeing shipments until at least mid May, but that if the Strait of Hormus was still closed into May and June, fuel shortages couldnt be ruled out. So now there's really growing urgency there around that situation.
That's interesting because the easy Jet CEO said that there were no concerns about jet fuel availability, but obviously we're keeping a close eye on that. What about the boardroom showdown at Monte Depascy.
Yes, and fun boardroom drama to end with this morning. So investors in Monte Tepascy backed another term for Luigi Lavagglio, who's the CEO, and that is after the board had tried to get rid of him. So that's a major victory for Lavaglio after the outgoing board had tried at first to prevent him from seeking a new term, then stripped him of his powers, and then ultimately alsted him.
But the vote was quite closed though, so that means that the tensions that there were the problem in this boardroom drama are likely to continue, the unlikely to go away. So the disagreement between both sides is really around the question of whether to keep Mediobanker, which Paskey bought last year, listed on the stock exchange, and also how to manage the stake in the insurer generally, so the old board had argued that then was fresh leadership that was needed
to manage that next stage of integration of growth. But Levaggio's merged Triumphant and Indo, so we'll see we'll see what happens with the Shez.
Are up this morning the Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.